US/CANADA: Ice River Springs agrees Arrowhead Water acquisition
Ice River Springs Water is to buy the assets of Canada's Arrowhead Water for US$1.65m.
The Canadian spring water bottler took over Arrowhead's 15-litre bottling operations in November and is now exercising a previously announced Right of First Refusal Agreement, Arrowhead said yesterday (14 January). The deal should close on 15 February subject to regulatory approval, it added.
Ice River will continue to deliver Arrowhead's natural spring and reverse osmosis water to the Western Canadian retail and wholesale market, Arrowhead said.
Ice River is based in Shelbourne, Ontario, and operates ten plants in Canada and the US.
This story was updated at 2pm on 16 January to remove a line that said Arrowhead Water was owned by Nestle Waters. Arrowhead Water is a Canadian firm and not connected to Nestle Waters-owned Arrowhead in the US. We apologise for any inconvenience caused.
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