EDEN SPRINGS SPAIN ANNOUNCES ACQUISITION FROM PASCUAL CORPORATION

Eden Springs, Europe’s leading provider of beverage solutions for the workplace and homes, has expanded its customer portfolio in Spain with the acquisition of office water solutions activities from the Pascual Corporation.

In Spain, Eden Springs (Agua Eden) currently provides over 40,000 offices and homes with water and coffee products and delivery services. With this acquisition, Eden Springs takes over Pascual’s Home and Office Delivery bottled water services.

The acquisition of office water solutions activities from the Pascual Corporation adds around 10,000 customers to Eden Springs’ water and coffee service network, mainly in the key urban areas of Madrid, Barcelona and Seville. The agreement between both companies became effective on October 1, 2014 and is expected to add €3MM to Eden’s annual turnover.

Antonio Alarcón, managing director of Eden Springs in Spain, comments: “This is an important acquisition for Eden Springs in Spain. Our new customers from Pascual can be reassured that they will continue to receive great service and high quality water and coffee products that are essential for the welfare of their employees and clients.”

This deal in Spain follows the Eden Springs Group’s recent acquisition in September of five businesses from Nestlé Waters Direct in Germany, Russia, Portugal, Poland and the Netherlands, and reflects the company’s strategy of selective acquisitions as part of its overall growth strategy.

RaananZilberman, CEO of Eden Springs, comments: “The acquisition of Pascual’s office water solutions business strengthens our market position in Spain and creates a solid platform for future business growth.  We have faith in the long-term potential of the Spanish market.  As the economy slowly but surely improves, Eden Springs will be there to offer high quality water and coffee, which are well-appreciated by our Spanish customers’ employees and clients.”

Eden Springs launched its first water operation starting in 1997 and expanded into Spain, France, Switzerland, the UK and other European countries. In 2010, Eden enlarged its offer to include office coffee services (OCS), providing employers with a ‘one-stop shop’ for all their water and coffee solution needs. A strong service culture has helped Eden to grow a large customer base of blue chip organizations, public sector bodies and small- and medium-sized businesses throughout Europe.