Red Eagle Group, owner of the country's largest water cooler business, Just Water, has lapped up a rival.
Unlisted Red Eagle, which supplies about 25,000 corporate customers through Just Water, has bought Cool Water, which has about 5000 customers.
Cool Water, established in 1996, was previously owned by Aucklanders Joel and
Kristina Danford, and Martin and Nerisa Taylor. The price of the deal has not been disclosed.
Just Water general manager Alan Reid has resigned to become chief executive of Cool Water and will take a 25 per cent stake.
Red Eagle executive chairman Tony Falkenstein, who started Just Water about 13 years ago, said the two water companies would remain separate.
Cool Water's main business is bottled water delivery and Just Water provides water-filtering machines. Mr Falkenstein said he was pleased to have acquired Cool Water because the sale of the business had attracted international interest.
Mr Reid said Cool Water's business was mostly in the upper North Island. He intended to expand it nationwide.
