Cott acquires Clearwater, expanding its presence to Hungary
Subsidiary Eden Springs gets an in to the Hungarian market and gains intellectual property for a carbonation technology patent.
TORONTO — Cott Corp. and its Eden Springs subsidiary have acquired 100% of the shares of Hungarian company, Clearwater Kereskedelmi és Szolgáltató Korlátolt Felelősségű Társaság.
Clearwater leads the market in providing water across Hungary. Eden Springs is a provider of workplace water and coffee service products to over 800,000 customers in 18 countries.
Through the acquisition, Eden Springs gets access to the Hungarian market and adds approximately 14,000 coffee machines in location. The transaction also includes intellectual property for a carbonation technology patent that will provide customers with carbonated water through water filtration dispensers and bottled water coolers.
Eden Springs also plans to introduce ClearWater’s carbonation technology to other markets.
No financial details were released.
Cott, based in Mississauga, Ont., is a water, coffee, tea, extracts and filtration service company.