FINLAND – Waterlogic, a leading manufacturer and global distributor of point-of-use (POU) water coolers, has made two strategic acquisitions in Finland in an effort to bolster its presence in the Nordic region.
According to a report by FoodBev, Waterlogic will now have a presence in Finland following the acquisitions of Mixtec’s Thoreau franchise and the beverage service business of Beverage Technology Services Finland.
The newly-formed Waterlogic Finland will become part of the Waterlogic Nordic group alongside Norway, Denmark and Sweden.
Mattias Källemyr, CEO Waterlogic Nordic, said: “This is truly a milestone for us and will complete our vision of creating one consolidated Nordic region with Finland being the last piece of the puzzle.
“With this acquisition, we will launch our Purezza concept to hospitality venues in the country as well as introduce Waterlogic’s full range of solutions.”
The deal for Thoreau’s Finnish franchise and hospitality solution comes just a few months after Waterlogic acquired Thoreau International.
Located in Petikko, Vantaa, Mixtec launched Finland’s Thoreau franchise serving the HoReCa market back in 2014: HoReCa is the term of the Dutch and French language for the foodservice and hotel industries.
The acquisition of the Thoreau brand gives Waterlogic an opportunity to its hospitality offering for the first time in Finland alongside its Purezza Premium Water brand.
The deal also gives Waterlogic a strategic platform to introduce its full range of office hydration solutions to businesses across the country.
Waterlogic confirmed that Mixtec managing director, Kristian Von Bonsdorff, will take on the role of country manager of Waterlogic Finland.
Källemyr added: “We welcome our new employees in Finland to Waterlogic and wish them every success in our combined business as we continue to grow our footprint in Finland organically and through further acquisitions.”
The news marks Watelogic’s first deal since it was majority acquired by Castik Capital, as the water dispenser manufacturer looks to execute its growth strategy.
Waterlogic’s growth strategy is timely as the water dispenser market which was valued at US$1.95 billion in 2018 is estimated to expand further at a CAGR of 7.6% from 2019 to 2025, according to recent statistics from Grand Review Research.
Some of the factors driving the product demand include portability, easy usage and installation process, and minimal maintenance costs.
Additionally, drinking water scarcity in several regions requires robust sources to meet the rising demand for safe drinking water leading to increased product sales, thereby augmenting the market growth.
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