Eden acquires Danone's shares in Joint Venture
Eden Springs Ltd. purchases 100% of the Danone Springs of Eden ('DSE')
The Danone Springs of Eden (‘DSE’) is a joint-venture between Eden Springs Ltd. and Danone Group. Currently, Danone holds 58% of the company’s shares, and Eden Springs the other 42%. This joint-venture was founded in 2003, with the objective of creating a leader in Europe’s HOD business.
Today DSE is Europe’s leading bottled water brand for water coolers. The company is present in 16 countries, with over 120 branches, 2000 employees and has an annual turnover of more than 200 million Euros.
The shareholders of Danone Springs of Eden have reached a strategic decision, whereby Danone will sell its shares in the joint-venture to Eden Springs Ltd. As a result, Eden Springs Ltd. will assume 100% ownership of the company. The deal will take effect on July 12th, 2007.
According to Roni Naftali, founder of Eden Springs Ltd. and chairman of the Danone Springs of Eden board of directors, Danone’s decision to sell its stake in the business creates an opportunity for Eden Springs Ltd. to capitalize on the existing management and company experience that has been gained from running the European operations.
"Eden Springs is a company that we built and managed during the last several years according to the spirit and values of our brand. By completing
the purchase and taking full ownership we are further committing ourselves to develop the brand and the value for the shareholders."