News | November 3, 1998

Danone Group to Acquire AquaPenn Spring Water

Danone Group (Stamford, CT) has announced that it intends to acquire AquaPenn Spring Water Company.

Danone Group's current water interests in the US include Great Brands of Europe, Inc. and Danone International Brands, Inc., which market Evian, Volvic and Dannon Natural Spring Waters.

The acquisition significantly strengthens Danone's bottled water portfolio in North America. The combined company will operate five North American bottling facilities, dramatically increasing production capacity for Dannon Natural Spring Water. This enables Danone Group to accelerate its portfolio development in packaged natural spring water, a market currently growing at 25% per year.

As part of the transaction, the companies have agreed to start production of convenience still natural spring water under the Dannon brand at the AquaPenn bottling facility in Florida.

AquaPenn produces, bottles and markets natural spring water sold either under it own brands - AquaPenn, Great American, Pure American and Castle Rock - or under private labels. AquaPenn currently operates plants in Pennsylvania, Florida and California.

Danone Group is Europe's third largest food group, and is the world's second largest bottled water producer.