USA: LVMH buys into bottled water company
Under the terms of the agreement LV Capital, founded in 1999, will now be entitled to a seat on Energy Brands' board of directors.
LV Capital, looking to expand into the health and well being sectors of soft drinks said:
"This partnership is consistent with our company's stated strategy to deal with excellence."
Jean Courtiers, vice-president of LV Capitals said: "This marks our first investment in a non-alcoholic beverage company. And, as the fast growing pioneer in modern beverages, the Glaceau Water brand will continue to lead the movement in the nutrient enhanced bottled water market."
According to the Beverage Marketing Corporation, consumers purchased more than 5 billion gallons of bottled water last year alone and the US market was worth $5.7 billion wholesale.
No financial details were disclosed but J. Darius Bikoff, founder and president of Energy Brands said: "This strategic partnership reinforces our pre-eminent position in the premium bottled water market.
"And proceeds from the investment will provide Glaceau Water with the financial flexibility to aggressively expand sales and marketing efforts nationwide," he added.
Glaceau Water a brand of nutrient enhanced bottled waters includes Glaceau Smartwater, Glaceau Vitaminwater, Glaceau Fruitwater, Glaceau Wellnesswater and Glaceau Soywater.
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