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EDEN SPRINGS CONFIDENT IN FUTURE GROWTH FOLLOWING SALE TO RHÔNE CAPITAL

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EDEN SPRINGS CONFIDENT IN FUTURE GROWTH FOLLOWING SALE TO RHÔNE CAPITAL

EDEN SPRINGS CONFIDENT IN FUTURE GROWTH FOLLOWING SALE TO RHÔNE CAPITAL
June 17
08:46 2013

Eden Springs, Europe’s leading provider of water and coffee services in the corporate sector, has signed an agreement for the sale of its business to investment funds affiliated with Rhône Capital L.L.C. The acquisition is being made based on an enterprise value for Eden of circa €240 million.

Following the completion of the proposed transaction, the company’s existing management team, with support from Rhône Capital and its affiliates (“Rhône”), will continue to develop and grow the company, through investing in organic growth, developing new products and pursuing consolidation of complementary businesses.

Commenting on today’s announcement, Mr. Raanan Zilberman, Eden’s Chief Executive Officer who continues to lead the management team of the company, said: “We view the transaction as an opportunity to accelerate the company’s expansion plans. The business strategy, as outlined over the past years, which consists in further developing our full offering of water and coffee products and services, requires investment in marketing, equipment, business development and in acquisition of complementary companies. The company is also exploring entering new geographical markets and in particular Eastern Europe, where demand for mineral water is growing. We are pleased to partner with Rhône and are looking forward to implementing our shared vision, which we believe will benefit from Rhône’s experience in successfully building, and creating value in, businesses it has acquired.”

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