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11
Jun 2020
French firm gets approval for Harrogate Water takeover
Danone said it planned to acquire a majority stake in Harrogate Water back in February but it was subject to regulatory approval.
The UK competition watchdog has given a French food firm the green light for its proposed takeover of Harrogate Water.
Danone said it planned to acquire a majority stake in Harrogate Water back in February but it was subject to approval.
The Competitions and Markets Authority (CMA) has now cleared the anticipated takeover for an undisclosed fee.
Harrogate Water's current majority shareholders, the Cain family, will remain as minority shareholders under the deal.
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Last year Harrogate Water recorded sales of more than £21 million. It will now join Danone's other water brand Evian and Volvic.
Harrogate Spring Water is the original British water brand, with a spa history dating back to 1571. It was first bottled in 1740.
James Pearson, Managing Director, Danone Waters UK & Ireland, said:
“I am thrilled to welcome Harrogate Water to the Danone family. This move will expand our offering in the UK and help to meet growing demand in sparkling water and on-the-go consumption."
James Cain OBE, 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."
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