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Highland Spring buys Irish bottled water firm
by http://news.bbc.co.uk - 26/11/2009
"Highland Spring has bought the bottled water division of a Dublin company for £17.5m."
Greencore makes own label bottled water for supermarkets and owns the Campsie Spring plant in Lennoxtown and Blaen Twyni in Wales.
Highland Spring is now the UK's largest bottled water firm, with 12 production lines, 400 workers and five plants.
The Perthshire company said it was now closer to its goal of turning over £100m in the medium term.
Greencore Group which is one of Europe's leading convenience food producers, said it was selling its water company to focus on its core businesses.
Job assurances
All of its 124-strong workforce will transfer to Highland Spring.
The Labour MSP David Whitton, whose constituency takes in the Lennoxtown plant, welcomed the takeover and said he had talked to the management at Highland Spring.
"I have been assured they see a long term future for the Lennoxtown facility with the prospect of new investment and new jobs," he said.
"I hope to meet with them soon to discuss their plans."
Di Walker, chief executive of Greencore Convenience Foods UK, said: "Highland Spring is already a great success story and their undoubted expertise in the bottled water market will allow them to take Campsie Spring and Blaen Twyni to the next level."
The deal will allow Highland Spring to expand its portfolio.
'Major milestone'
Its chief executive, Les Montgomery, said: "This acquisition will mark a major milestone in the history of Highland Spring and complements our expansion strategy perfectly."
Highland Spring is 30 years old and this year will produce 232m litres of bottled water across its range of products.
It is owned by the Dubai based Al Tajir family and nearly £60m has been invested in the firm over the last three decades.
Turnover in 2009 is expected to reach £54m with estimated profits of £3.5m.
Half of the UK population drink bottled water and the market is worth £1.497bn annually.
More Details: http://news.bbc.co.uk/1/hi/scotland/tayside_and_central/8368462.stm
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