Danone to acquire a majority stake in Harrogate Water Brands Ltd
On 26th February it was announced that Danone will acquire a majority stake in our client Harrogate Water, owner of one of Britain’s fastest growing water brands and number 1 in the Out of Home bottled water category.
Harrogate Water is the owner of the award-winning British water brand “Harrogate Spring Water”, one of the UK’s leading bottled water brands, and the charitable brand “Thirsty Planet”. Harrogate Spring Water is the original British water brand, with a spa history dating back to 1571, and being first bottled in 1740. Today, Harrogate Spring Water is one of Britain’s fastest growing water brands and leader in the Out of Home category. The current shareholders of Harrogate Water, the Cain family, will remain as minority shareholders and continue to contribute to the growth of the company.
The acquisition will further develop Danone Waters’ position in the UK and support future growth for Harrogate Water’s portfolio. It will provide new opportunities for both businesses to deliver growth across complementary channels, combining the respective know-how of Harrogate Water in foodservice and Out of Home and Danone Water in retail channels with its evian and Volvic brands.
James Cain OBE, CEO of Harrogate Water CEO, said: “We are delighted to have found the right partner to take Harrogate Water forward on its journey, while respecting and celebrating our history and heritage. Danone and Harrogate Water have a shared ethos and approach to community and sustainability. As a family-business, we are all about our people; our colleagues, partners and customers. Together with the team at Danone we are confident we will continue this success, with a considered, like-minded approach. 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.”
Stamford Partners acted as exclusive financial advisor to the shareholders of Harrogate Water Brands on this transaction.
The completion of the transaction is subject to regulatory approval. Financial terms were not disclosed.