US: Glacier takes over Water Island
The deal, which remains subject to approval by Water Island's shareholders and routine regulatory approvals, is expected to be completed in the fourth quarter.
Brian McInerney, chief executive officer of Glacier Water, said the company was excited about the acquisition of Water Island, based in the Midwest, given the company's excellent reputation and its geographical fit with Glacier's own business.
"The acquisition of Water Island also further expands Glacier's geographic reach and will deliver operational benefits in one of the fastest growing bottled water markets in the country," McInerny said. "In addition, the acquisition should accelerate Glacier's return to profitability."
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