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US: Global Beverage buys premium water company

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Global Beverage Solutions has acquired premium bottled water company.

The US company confirmed yesterday (2 April) that it has bought Aqua Maestro, an internet retailer and distributor of imported bottled waters throughout the US and the Caribbean, for an undisclosed fee.

The transaction was completed through a combination of cash and the issuance of restricted stock of Global Beverage, as well as the issuance of promissory notes in favour of Aqua Maestro's stockholders.

Aqua Maestro specialises in handling imported European water brands. This includes exclusive US importation rights for Via Natural, Cape Karoo, Fine, as well as exclusive Internet retail sales rights for brands such as Voss and Gerolsteiner. Last year, the company generated US$2.4m in revenues.

"The opportunity for Aqua Maestro to utilise Global Beverage's distributors (Beverage Network of Maryland) and establish collocation of product in their warehousing location in the Baltimore region will immediately benefit Aqua Maestro and its customers," said Gene Donney, founder of Aqua Maestro.

Jerry Pearring, CEO of Global Beverage Solutions, added: "These agreements will aid in our valuation and provide multiple business synergies which should further accelerate revenue growth in the respective divisions."

Last month, Global Beverage merged its subsidiary in Maryland with that of XStream Beverage Network's. Under the terms of the merger agreement, XStream received 60.5m shares in Global, while Global issued a US$2m note payable to XStream.


Sectors: Soft drinks, Water

Companies: Aqua

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