The AGTHIA Group that is quoted at Abu Dhabi bought the Mineral water desalination company of the EAU Riviere acquiring a 100 percent participation in the company.
The acquisition will help AGTHIA tripled the client base of his home and expand his network in the water and food segment.
It will also help the Abu Dhabi company to achieve income growth of 6.5 percent.
Agthia, which will keep the existing brand, said the measure also allows the company to enter the conventional segment using the Riviere client base in the water supply to offices and homes in the EAU.
The financial details of the transaction have not been revealed, which is subject to regulatory approvals.
Established in 2003, Riviere Servomers in Abu Dhabi, Al Ain, Dubai and Sharjah, mainly in the conventional segment.
It operates three bottling facilities in Abu Dhabi and Dubai.
The acquisition occurs a week after the company’s announcement that they will leave the American will assume the position of managing director and CEO from June, replacing Alan Smith, who will remain as an advisor.
The company said the leadership transition was part of its next phase of growth and transformation.
