FRANCE: Spadel acquires water company Wattwiller
Belgian mineral water group, Spadel, has announced the acquisition of French counterpart, Grandes Sources de Wattwiller.
Set up in 1993, Alsace-based Wattwiller operates two different springs: one for still water, Wattwiller, and one for sparkling water, Jouvence de Wattwiller. The firm employs 45 staff and had a total sales volume last year of 50m litres.
The Spadel Group, for its part, operates springs in Belgium and Wales (UK), mainly under the brand names Spa, Bru and Brecon. In 2002 the Group recorded a consolidated turnover, exclusive of excise tax, of €209.2m, a trading profit of €19.3m and a net consolidated profit of €11.6m.
It employs just over 900 staff and had a 2003 sales volume of 600m litres.
Spadel will finance the purchase mainly through its own equity and, for the balance, a medium-term credit.
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