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Nestle Waters has purchased a major share in Welsh water firm Princes Gate Spring Water, as it looks to cater for bottled water demand in the UK market.
Princes Gate is based in South Wales
The company said last week that Princes Gate is the eighth-largest manufacturer of bottled water in the UK. Financial details and stake size were not disclosed.
Princes Gate, which is in South Wales, was founded in 1991 by brothers David and Glyn Jones. David will retain a stake in the business, Nestle said. The company supplies Princes Gate spring water to the retail and out-of-home channel, as well as under other brands. The Princes Gate plant is "one of the few UK bottling facilities to be 100% self-sufficient" thanks to renewable energy produced by an on-site wind turbine.
"I am pleased to welcome Princes Gate to the Nestlé Waters family," said Michel Beneventi, MD Nestlé Waters UK. "This company has grown very successfully over the past 27 years and shares many of the same qualities and values as our existing waters business.
"In the UK, consumers are increasingly choosing healthier hydration options and consequently the demand for high-quality spring and mineral water continues to go up. This acquisition reinforces our position in the UK and will allow us to effectively respond to customer demands and consumer expectations."
Nestlé Waters is best known in the UK for bottling Buxton mineral water and Nestlé Pure Life.
Last month, the company lined up a CHF25m (US$24.9m) investment at its mineral water facility in the west of Switzerland.
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Sectors: Mergers & acquisitions, Soft drinks, Water
Companies: Nestle
