Nestle to acquire Swiss bottled water company
September 04, 2007
by FoodBusinessNews.net Staff
VEVEY, SWITZERLAND — Nestle has signed an agreement to acquire the Swiss bottled water producer Sources Minerales Henniez.
Nestle has reached an agreement with the Rouge family, the majority shareholder in Henniez, to acquire 61.66% of the company for 3,000 Swiss francs ($2,470) per share. In addition, Nestle will make a public offer for the rest of the shares quoted on the SWX Swiss Exchange for 5,303 Swiss francs ($4,367) per share.
The transaction totals about 155 million Swiss francs ($127.66 million). While still subject to regulatory approval, Nestle Waters will have just less than 25% ownership in the Swiss bottled water market once the transaction is completed.
"Henniez perfectly strengthens our existing activities in Switzerland," said Carlo Donati, chief executive officer of Nestle Waters. "It brings us modern industrial capacity adapted to evolving consumer needs, a strong distribution network as well as prestigious local brands which ideally complement our existing portfolio of international brands."
Henniez sells the Henniez and Cristalp brands of bottled water and had sales of 152 million Swiss francs in 2006.