Eco-Growth Strategies Inks Merger Agreement
Eco-Growth Strategies, Inc. (OTC: ECGS), a prominent player in the bottled water industry, has announced a pivotal merger agreement aimed at acquiring all assets of Hawaiian Springs Water Company. This strategic move is set to bolster the company's position in the market for purified and spring water.
Details of the Acquisition
The acquisition involves Hawaiian Springs Water's operations based in a 33,000 square foot facility that covers around 7 acres. This facility not only includes bottling capabilities but also features a solar farm that contributes to its energy needs, showcasing the company's commitment to sustainable practices. The deal, valued at approximately $4.5 million, is contingent upon completing due diligence and the company's plans to uplift its stock to a senior exchange by the end of the second quarter of the upcoming year.
Strengthening Market Position
By acquiring Hawaiian Springs Water, Eco-Growth Strategies plans to integrate this premium product line into their existing offerings, particularly enhancing their Hawaiian Isles Water brand. The Hawaiian Springs brand, well-loved for its clean taste sourced from lava rock formations, is expected to drive customer interest and expand market reach following the merger.
Enduring Brand Presence
Founded over two decades ago, Hawaiian Springs Water has established a robust presence, with its products available in about 20,000 locations throughout Hawaii and the mainland. With an impressive annual revenue close to $4 million, it thrives not only in retail grocery outlets but also through various online platforms.
Company's Vision for Growth
W.J. (Bill) Delgado, CEO of Eco-Growth Strategies, emphasized that this merger will not only enhance product offerings but also facilitate strategic investments in plant infrastructure and bottling equipment. This strategic growth initiative aims to meet the anticipated consumer demand more effectively.
Commitment to Quality
Dedicated to providing the highest quality water, Eco-Growth Strategies prides itself on its innovative sourcing, manufacturing, and packaging methods. The company primarily focuses on the Hawaiian Islands, Asia, and North America, ensuring that its products meet the growing demand for premium bottled water while prioritizing sustainability.
Contact Information for Inquiries
Businesses and stakeholders interested in the acquisition can reach out to Lewis Cohen, who manages inquiries related to this merger. He is available at 925-260-6434, or via email at l.cohen@hawaiianisleswater.com.
Frequently Asked Questions
What prompted Eco-Growth Strategies to pursue this acquisition?
Eco-Growth Strategies aims to diversify and enhance its water product offerings by integrating Hawaiian Springs Water's premium brand.
How will this acquisition affect Hawaiian Springs Water customers?
Customers can expect an improved range of products with heightened quality and innovative solutions due to enhanced infrastructure and resources.
What are the next steps for Eco-Growth Strategies?
The company is focusing on completing due diligence and preparing for an uplisting to a senior exchange, which is critical for the merger transaction.
Where can consumers find Hawaiian Springs Water products?
Hawaiian Springs Water products are widely available in grocery stores and retail outlets, as well as through various online platforms.
What is the expected timeline for the merger to be completed?
The merger is expected to finalize within the stipulated timeline, contingent upon successful due diligence and regulatory approvals.
