Rhone Capital, a US-based private equity firm, is set to purchase the European and Israeli operations of Eden Springs, a bottled water and coffee services provider and a brand of Mayanot Eden, for €70m.
Mayanot will sell the assets, which has an enterprise value of €240m with €170m of debt.
With this acquisition, Eden Springs will continue to develop and grow its business by investing in organic growth, developing new products and pursuing consolidation of complementary businesses.
Eden Springs CEO Raanan Zilberman was quoted by foodbev.com as saying that this transaction is an opportunity to accelerate their expansion plans.
"The business strategy, as outlined over the past years, which consists in further developing our full offering of water and coffee products and services, requires investment in marketing, equipment, business development and in acquisition of complementary companies," Zilberman added.
"We are pleased to partner with Rhône and are looking forward to implementing our shared vision, which we believe will benefit from Rhône's experience in successfully building, and creating value in, businesses it has acquired."
Eden provides water and coffee services across 15 countries and operates a network of circa 27 springs, 150 branches and 1,000 service vehicles.
