DS Services has acquired Mountain Valley Spring Company in a deal valued at $78.5m on a debt and cash-free basis.

Previously owned by Great Range Capital, Mountain Valley is a US-based spring and sparkling water brand that operates production facilities in the Ouachita Mountains and Hot Springs, Arkansas.

DS Services is a subsidiary of Canada-based beverage and foodservice company Cott Corporation.

Packaged in various glass bottle sizes, Mountain Valley delivers its products to homes and offices throughout the country.

” The Mountain Valley acquisition is another positive step in building out our water solutions portfolio.”

To fund the acquisition, Cott used available cash-on-hand and its asset-based lending facility.

DS Services’ president Dave Muscato said: “We are very excited about strengthening our business and adding a fast-growing premium spring, sparkling and flavoured water American brand to our portfolio.

“We have added not only a high-growth premium water product but also an American brand that we can offer to consumers in iconic glass bottled packages.”

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Cott Route Based Services head and incoming CEO Tom Harrington said: “The Mountain Valley acquisition is another positive step in building out our water solutions portfolio and meeting our stated desire to continue to pursue acquisitions in the growing water and coffee segments, where we believe our platform, operating strength and synergies can be leveraged.”