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Acqua Sant’Anna, the Italian mineral water firm, has announced the acquisition of French counterpart La Compagnie des Pyrenees (LCDP), owner of the Eau Neuve brand, for €50 million ($54.5 million).
Founded in 1996, Acqua Sant’Anna holds a 13.4% share of the mineral water market in Italy and reported turnover of €320 million ($348.8 million) in 2023.
Commenting on the move, Acqua Sant’Anna founder, president and CEO Alberto Bertone said: “It is apparent to me that the only way to grow is through investment. The objective now is to expand into the French and European markets, exporting our business model.
“This acquisition in France is the only the first of a range of deals we have under consideration”, he continued, adding: “We are buying in Europe in order to become international and to bring the Sant’Anna model to the shelves of the leading European distributors”.
Source: FirstOnline
