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ENECO REFRESH LTD — Capital/Financing Update 2020
May 28, 2020
64874_rns_2020-05-28_c673cc66-b90c-4bf5-9581-a47b54f51c90.pdf
Capital/Financing Update
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Eneco Refresh Limited ( ABN 28 079 681 244) 17 Denninup Way, Malaga WA 6090 Tel: 08 92483006 Fax: 08 92487233 Email: [email protected] Website: www.eneco-refresh.com.au
Friday 29 May 2020
ASX Announcement (ASX:ERG)
Acquisition of JB’s Purified Drinking Water
Eneco Refresh Limited (Eneco) is pleased to announce the acquisition of JB’s Purified Drinking Water (JB’s) by its wholly-owned subsidiary Refresh Waters Pty Ltd (Refresh). The purchase is paid out of our cash resources. There is no condition that needs to be satisfied on the acquisition.
JB’s was started by Mr John Bell in Melbourne in October 1998. It delivers pure water in 15-litre containers to businesses and residences. Its customers are within the same area as that serviced by Refresh in Melbourne.
Mr Bell said, “After running this business for more than 21 years, I was looking to retire. I wanted to have a good company continue the business. I am glad to hand the baton over to Refresh.”
Refresh started its first factory in Perth in August 1997. It now has 7 bottled water factories in 5 states/territory - Perth, Sydney, Melbourne, Brisbane, Toowoomba, Kalgoorlie and Darwin. Besides Neverfail owned by Coca-Cola Amatil, Refresh is the only other company in the home and office delivery segment of the bottled water market that has multiple locations.
Refresh will integrate the JB’s business into its existing Melbourne factory, which commenced operations in March 2005. The acquisition of JB’s is both cash flow and profit accretive and that will contribute to Refresh’s revenue and profit. It will also increase customer density in Melbourne thereby reducing distribution cost.
“Eneco is always looking for opportunities to accelerate growth and increase shareholder value. We will continue to search for opportunities like this.” Said Eneco Chairman Henry Heng.
This announcement has been authorised for release by:
Henry Heng Executive Chairman [email protected]
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Producing Australia’s purest drinking water since 1997
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refreshpurewater.com.au refreshspringwater.com.au akunasprings.com.au akunablue.com.au
oxyfresh.com.au distilledwaters.com.au hydr8water.com.au ozwaterfilters.com.au
drinkingwater.com.au
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Eneco Australia Pty Ltd (ABN 16 631 139 261) 17 Denninup Way, Malaga WA 6090 T: 08 92487222 F: 08 92487233 E: [email protected] Refresh Waters Pty Ltd (ABN 20 115 000 318) Perth - 17 Denninup Way, Malaga WA 6090 T: 08 92487222 F: 08 92487233 E: [email protected] Kalgoorlie – 33/46 Great Eastern Hy, Kalgoorlie WA 6430 T: 08 90222266 F: 08 90224468 E: [email protected] Melbourne – 11 Olive Grove, Keysborough Vic 3173 T: 03 87128432 F: 03 97015744 E: [email protected] Sydney – 3 Salisbury St, Silverwater NSW 2128 T: 02 97484200 F: 02 97484366 E: [email protected] Darwin – 22 Hamaura Rd, East Arm NT 0822 T: 04 06841719 F: 08 92487233 E: [email protected] Refresh Waters Queensland Pty Ltd (ABN 97 095 451 406) Brisbane – 120 Mica Street, Carole Park Qld 4300 T: 07 32711251 F: 07 38793019 E: [email protected] Toowoomba – 600 Boundary St, Toowoomba Qld 4350 T: 07 46590400 F: 07 46590411 E: [email protected] Refresh Plastics Pty Ltd (ABN 82 616 217 791) t/a Ampi Plastics – 9 Olive Grove, Keysborough Vic 3173 T: 03 97015600 F: 03 97015744 E: [email protected]