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Coca-Cola Amatil is set to acquire HOD (home and office water delivery) company Palm Springs.

The Australia-based company said today (31 July) that the purchase follows an approach by Palm Springs to CCA to buy the business.

The transaction will cost CCA A$7.4m (US$5.6m), and is expected to be completed within the next three months. The purchase is dependent on Palm Springs shareholder approval and competition clearance.

CCA will subsequently integrate Palm Springs into its existing bottled water company Neverfail Springwater.

"Palm Springs approached us to purchase its bottled water business and we saw it as an opportunity to leverage the value from our existing home and office water delivery business, Neverfail Springwater," said Warwick White, managing director of CCA's Australian operations.

"The acquisition of Palm Springs will provide us with an opportunity to expand our existing customer relationships and service capabilities, and we will also be able to offer a broader array of products and services to existing Palm Springs customers."

Established in 1988, Palm Springs is Australia's second-largest home and office water business - behind Neverfail - with 25,000 customers and operations in Queensland, NSW and Victoria. Over the past 12 months, the company saw sales revenue reach A$18m.


Sectors: Soft drinks, Water

Companies: Coca-Cola Amatil

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