Europe’s leading water cooler supplier, Eden Springs, has acquired UAB Neptūno vandens pristatymas - Lithuania’s second biggest home and office delivery (HOD) supplier - via its subsidiary in the Baltic region.
Active in all three Baltic countries - Estonia, Latvia and Lithuania - Eden Springs employs over 60 staff and serves 18,000 customers in the region. The acquisition will increase Eden’s market share in the Baltics by 33 per cent. As a result of the acquisition, 25 former UAB Neptūno vandens pristatymas staff will join the Eden Springs team in its Lithuanian offices and depots, located in Vilnius, Kaunas and Klaipeda. Total revenues for the combined company are approximately €2million per annum.
This acquisition is important for Eden Springs and clearly demonstrates the group’s commitment to the growing water cooler market in the Baltics. As well as adding new water cooler customers to its portfolio, Eden Springs Baltics will strengthen the existing product offering in terms of new PET bottle solutions to include lemon-flavoured mineral water, which will be distributed under the brand name Neptunas.
Chief executive officer of the Eden Springs Group, Raanan Zilberman, comments: "The decision to acquire UAB Neptūno vandens pristatymas in Lithuania is in line with our strategy to expand the group’s operations through organic growth and acquisitions. In the Baltic markets we have a solid management team led by Naveen Singh, who has been our managing director for the last nine years. I have every confidence that the local team will integrate very successfully with UAB Neptūno vandens pristatymas, leading to increased customer satisfaction and further business growth in this region.”
The deal was completed on September 30, 2011.
In addition to expanding in the water cooler industry, Eden Springs Baltics is also introducing coffee solutions to its business customers through its European partner Lavazza.