Rhône sells Eden Springs to Cott for €470m

The purchase price represents 7x EBITDA, or 1.3x revenues. The acquisition is expected to close in the third quarter of 2016. Eden Springs will continue to be led by its current CEO, Raanan Zilberman.

The business's management also exited its minority share to Cott. The buyer is a producer of beverages on behalf of retailers, brand owners and distributors, employing 9,500 people. Cott has manufacturing activities across the US, Canada, Mexico and the UK, with business activities in 50 countries.

Previous funding
In June 2013, US buyout house Rhône Capital acquired Eden Springs for approximately €240m from its Israeli parent Mayanot Eden. According to press reports, some €170m of the total funding came in the form of debt, with the remaining €70m in the form of equity.

Company
Headquartered in Le Vaud and established in 1997, Eden Springs is a provider of water coolers and coffee machines to workplaces for their employees and customers. Its products include bottle-fed and plumbed-in water coolers, bottled water and a range of coffee machines. The business has 3,200 employees.

Eden Springs has revenues of €360m and €60m of EBITDA.

People
Cott Corporation – Jerry Fowden (CEO).
Eden Springs – Raanan Zilberman (CEO).

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