Eden Springs: The acquisitions will double turnover in Switzerland to €14 million in 2007.
Eden Springs Ltd. (Maayanot Eden) (TASE: MEYD) and Groupe Danone's (NYSE:DA; XETRA; Paris:DANO) joint venture Danone Springs of Eden has bought four Swiss companies for €9 million. The companies are AQA Coolers, Blue Stream, Nestle Direct Swiss, and Water Point. The acquisitions increase the company’s share of the Swiss market to 70%.
Danone Springs of Eden president Raanan Silberman said that the acquisitions and mergers of companies and operations in the company’s line of business were part of the company’s strategy. “The acquisitions helped the company improve its business results. We’re especially pleased by the latest series of acquisitions, especially because we bought Nestle’s bottled water operations in Switzerland, which was our main competitor.”
Eden Springs predicts that the acquisitions will double the company’s turnover in Switzerland to €14 million in 2007.
Published by Globes [online], Israel business news - www.globes.co.il - on March 8, 2007
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