Mahou San Miguel, the leading Spanish brewer, has announced the acquisition of 51.78% of bottled mineral water company Aguas del Valle de La Orotava.
Aguas del Valle de La Orotava is a Canary Islands based company which owns the Fonteide and Los Alpes mineral water brands, as well as two springs on Tenerife.
Mahou San Miguel said the deal would boost its position in the mineral water sector in Spain and in the Canary Islands market in particular. The Fonteide and Los Alpes brands will be added to the Mahou San Miguel portfolio, joining Solan de Cabras, Sierra Natura, Sierras de Jaen, Fuente del Arca and the Solan de Cabras water with fruit juice range.
Commenting on the move, Mahou San Miguel water business unit managing director Jesús Núñez said: “It is a matter of huge satisfaction for us to add an asset such as Fonteide to our company, and this will undoubtedly help grow our water business in the Canary Islands market, which is particularly attractive in terms of size and potential for growth. This purchase will also underpin our position among the leading water companies by value in Spain”.
In a statement, the group clarified that, beyond the bottled water company, it intended to promote the growth of its beer brands Mahou, San Miguel, Reina and Alhambra in the Canary Islands in order to consolidate its position as the second-largest brewer in terms of sales.
Source: Mahou San Miguel