We have closed an agreement for the purchase of 100% of Aguas del Pilar S.L., owner of the brand Fontarel. This spring is located in the area of Loja, in the province of Granada, and employs 24 people. Currently, it sells 44 million litres of weak mineralisation water and has the capacity for over 240 million litres.
With this acquisition, Corporación Hijos de Rivera enters the top 10 of the beverage sector in Spain, strengthens its commitment to mineral water with its third abstraction and bottling company.
“We have added to our group a new spring with great potential, Fontarel, in addition to the two that we already had, one in Galicia, Cabreiroá in Ourense, and another in Asturias, Agua de Cuevas. In this way we complete our offer of the top quality products that we make available to our customers”, states Ignacio Rivera, CEO of Hijos de Rivera.
This purchase is part of the company’s strategic growth objectives in the mineral water sector and it demonstrates a commitment to its international expansion plan, which will allow the development of the business with numerous springs and positions, both on and off-trade.
In the words of Ignacio Rivera, CEO of Hijos de Rivera, S.A.U.: “this acquisition will allow us to develop a mineral water with its own identity, as a strategic business for the company, simultaneously creating synergies with our core business, beer, and with the group’s other products”
“This acquisition is an important step forward for our company as for the first time we have a spring in Andalusia, which strengthens the business already present in this area, which has always welcomed our products very positively”
Fontarel
The spring is located in the centre of Andalusia, in the area of Loja on the border of between Malaga and Granada and in the mountain areas of the Sierras de San Jorge (Puerto de los Alazores) and Sierra Gorda, at less than 49 kms from Antequera and 54 kms from Granada.
Located on 5 hectares and a safeguard zone of 330 hectares, Fontarel employs more than 24 people. Weak mineralisation water is obtained, very extended in Andalusia, and present on the market in 5 PET formats: from 0,33cl to 8 litres.
Fontarel has the capacity to reach 240 million litres.
