USA – The Alkaline Water Company, a leading producer of bottled alkaline drinking water has agreed to acquire premium water brand AQUAhydrate, in a move to expand its offering in the growing bottled water category.
Based in San Francisco, AQUAhydrate is a lifestyle company that manufactures and distributes premium bottled water infused with electrolytes and minerals and raised to an alkaline pH of over 9.
The brand is backed by celebrity investors including Mark Wahlberg, Sean ‘Diddy’ Combs and Jillian Michaels, and is sold in major retailers across the US.
Post acquisition, Alkaine Water said that the companies will work in tandem to launch a line of CBD-infused products, seeking to serve the booming for functional beverages market.
These products will add Alkaine Water’s pipeline of new products, which also include flavored waters. However, the company noted that it will not pursue the commercial production or sale of CBD-infused products “until legally permitted”.
The company said that the deal will strengthen its ongoing investments in product development, “by targeting these new products to each brand’s unique consumer target market.”
According to a statement from The Alkaline Water Company, the combined revenues for the entity are expected to exceed US$65 million in 2020 on a pro forma basis.
Richard Wright, president and CEO of The Alkaline Water Company, said: “The acquisition of AQUAhydrate is an unprecedented opportunity that allows The Alkaline Water Company to cement itself as a leader in various multi-billion-dollar segments which include premium water, functional & wellness, and the CBD market.
“We believe that post-acquisition, we will attract a more diverse consumer base, offer product differentiation and innovative brand extensions to become a major independent force in the beverage sector.
“We have identified the business synergies associated with the merger that will immediately impact and reduce costs associated with operations.
“This allows us to accelerate our sales channels through cross-promotion of both brands based on our distinct consumer bases and distribution channels.”
Sean Combs addes: “We built AQUAhydrate from the ground up by securing deals with the largest retail grocery outlets, creating innovative partnerships and evolving the brand.
“Today, I am confident that we are creating a powerhouse by combining AQUAhydrate with one of the largest, fastest-growing alkaline water companies in the world. I look forward to this next stage of growth as we build one of the most recognisable brands for premium water.”