Ice River Springs Water Co. Inc. is acquiring all the assets of Arrowhead Water Products Ltd. for $1.65 million.
Shelburne, Ont.-based Ice River operates 10 plants throughout Canada and the US. It has a closed-loop recycling facility in Ontario and claims to be the first beverage company in North America to produce a 100 per cent recycled bottle from self-manufactured PET resin.
The transaction, subject to regulatory approvals, will close in February.
The Calgary company outsourced all 15-litre water bottling operations to Ice River in November last year.
According to a joint press release, Ice River will continue to deliver Arrowhead’s premium bottles of natural spring and reverse osmosis water to the Western Canadian retail and wholesale market, and both companies will be the only ones in Alberta producing new one way, environmentally friendly, bisphenol A free, 15-litre water bottle.