Canada-based beverage company Ice River Springs Water is set to acquire all of the assets of Arrowhead Water Products for $1.65m, under a previously announced Right of First Refusal Agreement.
As part of the agreement, Arrowhead has already outsourced all 15-liter water bottling operations to Ice River in November 2012.
Ice River will continue to deliver Arrowhead''s premium bottles of natural spring and reverse osmosis water to the Western Canadian retail and wholesale market.
The company, which operates ten plants throughout Canada and the US, produces 100% recycled bottles from self-manufactured resin.
The transaction is expected to close on or about 15 February 2013, subject to certain regulatory approvals, including approval from the TSX Venture Exchange.
