Bottled water distribution company Just Water International has acquired the business of Aqua-Cool, the country's largest bottled water delivery business, for an undisclosed sum.
Just Water International, owned by Aucklander Tony Falkenstein, already owns the Just Water, Cool Water and the Corporate Water brands.
Falkenstein said the acquisition was "a consolidation of
this niche of the beverage industry", and the group would continue to focus on supplying water products to the New Zealand business market, and would look at overseas opportunities.
Just Water International now has more than 35,000 water coolers in businesses and organisations nationwide, and employs 179 staff.
"While the acquisition will provide some economies of scale in services and administration, the biggest benefit is in combining Just Water's proven record in retaining customers with Aqua-Cool's large customer base," said Falkenstein, who is the group's chief executive.
"This provides strong cashflows and opportunities for improved performance."
Former Deputy Prime Minister Jim McLay was last week named as the group's chairman.
