$ECGS Eco-Growth Strategies, Inc. Acquires Assets of Hawaiian Isles Water
https://www.prnewswire.com/news-releases/eco-...84337.html
The Company has executed a new lease on the 2nd largest bottled water plant near Honolulu HI
HONOLULU, Feb. 25, 2025 /PRNewswire/ -- Eco-Growth Strategies, Inc (OTC PINK:ECGS), a premier bottler of purified and spring water, announced today that it has acquired the assets of Hawaiian Isles Water (HIW) based in Aiea, HI. HIW is a 29-year-old brand providing purified bottled water throughout the islands. The assets acquired are all of the branding/IP, bottling equipment, and raw materials inventory. The company has valued these assets at approximately $6M USD. The bottling plant is leased through 2035 from the Lessors.
HIW was on a run rate in FY '2023 of approximately $15M with adjusted Net Income of approximately $2M. The Company (ECGS) has invested approximately $1.2M in retrofitting the plant, including new electrical, lighting, office remodeling, and HVAC repairs. The plant is the second largest bottled water plant in the Hawaiian Islands. It is approximately 55,000 square feet with the capacity of generating $100M through additional equipment installations.
Lewis Cohen, President of ECGS, stated "We are extremely pleased with this acquisition. We intend to maintain the existing customers and expand the customer base with new co-branding/bottling opportunities. The company expects to renew its two existing co-bottling agreements and expects to add two more by the third quarter. The new agreements are expected to add approximately $30M in additional revenue and $7M in net income."
William (Bill) Delgado, CEO of ECGS, added "Our management team, made up of snack food/beverage professionals with an average industry experience of 30+ years each, are excited to re-vitalize this 29-year-old brand. We fully intend to expand within the islands and a major expansion into China, Philippines, South Korea, and Japan by the end of the year. We also have additional acquisitions that will be announced in the coming weeks".
https://www.prnewswire.com/news-releases/eco-...84337.html
The Company has executed a new lease on the 2nd largest bottled water plant near Honolulu HI
HONOLULU, Feb. 25, 2025 /PRNewswire/ -- Eco-Growth Strategies, Inc (OTC PINK:ECGS), a premier bottler of purified and spring water, announced today that it has acquired the assets of Hawaiian Isles Water (HIW) based in Aiea, HI. HIW is a 29-year-old brand providing purified bottled water throughout the islands. The assets acquired are all of the branding/IP, bottling equipment, and raw materials inventory. The company has valued these assets at approximately $6M USD. The bottling plant is leased through 2035 from the Lessors.
HIW was on a run rate in FY '2023 of approximately $15M with adjusted Net Income of approximately $2M. The Company (ECGS) has invested approximately $1.2M in retrofitting the plant, including new electrical, lighting, office remodeling, and HVAC repairs. The plant is the second largest bottled water plant in the Hawaiian Islands. It is approximately 55,000 square feet with the capacity of generating $100M through additional equipment installations.
Lewis Cohen, President of ECGS, stated "We are extremely pleased with this acquisition. We intend to maintain the existing customers and expand the customer base with new co-branding/bottling opportunities. The company expects to renew its two existing co-bottling agreements and expects to add two more by the third quarter. The new agreements are expected to add approximately $30M in additional revenue and $7M in net income."
William (Bill) Delgado, CEO of ECGS, added "Our management team, made up of snack food/beverage professionals with an average industry experience of 30+ years each, are excited to re-vitalize this 29-year-old brand. We fully intend to expand within the islands and a major expansion into China, Philippines, South Korea, and Japan by the end of the year. We also have additional acquisitions that will be announced in the coming weeks".
