Danone, the food and drinks multinational, has announced the acquisition of a majority stake in Harrogate Water, a UK-based bottled water company, for an undisclosed sum.
Owned by the Cain family, Harrogate Water has a history dating back to 1740 s and abstracts water from an underground aquifer below the Harrogate Pinewoods. The company reported turnover of £21.6 million ($27.8 million) for the year ending 31st March 2019.
Commenting on the deal, James Pearson, managing director of Danone Waters UK & Ireland, said: “I am thrilled to welcome Harrogate Water to the Danone family. This move will expand our offering in the UK and help to meet growing demand in sparkling water and on-the-go consumption.”
Harrogate Water CEO James Cain added: “This is a great investment for the town of Harrogate and the Yorkshire region. We are incredibly proud to become part of the Danone family, and are excited about the benefits this will bring to Harrogate as we continue to produce one of the world’s finest natural source waters from the original British spa town, for everyone to enjoy”.
Source: Insider Media / Harrogate Water