by Mark Carter
Posted 3/4/2014 04:12 pm
Updated 9 months ago
Mountain Valley Spring Water of Hot Springs has been acquired for an undisclosed price by an investment group led by Great Range Capital of Kansas City, the company announced Tuesday.
Mountain Valley recently announced the addition of 40 new workers and a 38 percent revenue jump over the last year. As recently as last year, it was considering going public.
"Mountain Valley has an impressive and treasured heritage of providing consumers the finest spring and sparkling spring water," Mountain Valley CEO Breck Speed said in a news release. "Our partnership with Great Range Capital positions us well for continued growth and success. We now have an even greater ability to deliver the high quality products and services our customers have come to expect from Mountain Valley."
Speed was not available for further comment Tuesday afternoon.
GRC primarily targets controlling equity investments in Midwestern companies with revenues ranging from $10 million to $150 million, the news release said.
"Mountain Valley provides a top-tier domestic alternative to imported premium bottled waters," said GRC managing partner Ryan Sprott. "The company's historic brand, glass packaging and superior taste and mineral content resonate strongly with today's conscientious consumers."
Mountain Valley, billed as the country's oldest continuously operated bottled water company, serves individual consumers, retailers and food-service operators in all 50 states and select international markets.