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ENECO REFRESH LTD — M&A Activity 2009
Aug 30, 2009
64874_rns_2009-08-30_199e246a-78ff-41d0-99c8-d107b0ad7327.pdf
M&A Activity
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Refresh Group Limited ( ACN 079 681 244) 17 Denninup Way, Malaga WA 6090 Tel: (08) 9248 3006 Fax: (08) 9248 7233 Email: [email protected] Website: www.refreshgroup.com.au
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ASX Announcement
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ASX:RGP
Acquisition of Minnamurra Natural Springwater
Refresh Group Limited (Refresh) is pleased to announce the acquisition of Minnamurra Natural Springwater (Minnamurra), Sydney.
Over a 2 ½-year period, Refresh acquired 6 businesses, the last on 3 December 2007. Since then, it has been integrating these businesses into its own. Three new factories were set up in Brisbane, Kalgoorlie and Toowoomba, adding to the three existing factories Refresh had in Perth, Sydney and Melbourne.
“We have been in a consolidation phase. 5 out of 6 of our branches have either increased profits or reduced losses. Our recent rights issue has strengthened our financials and allow us to move into a growth phase again. The acquisition of Minnamurra will increase our customer density in Sydney thereby reducing our distribution cost.” said Group Managing Director Henry Heng.
Minnamurra was established on 1 May 1992 and is one of the oldest brands of spring water in the market. Its Managing Director, Graeme Price said, “I’ve known Henry since 2003 before Refresh set up their factory in Sydney. Over the years, I’ve seen how they’ve grown from strength to strength. My other business has also grown and so I reckon this is the best time for me to pass the baton to Refresh. More detail on my ozonation business is available at www.ozoneapplications.com.au.”
Mr Price is confident that growth of the bottled water industry will outpace other manufacturing industries in Australia. Part of his payment is made in shares, making him one of Refresh’s major shareholders.
Refresh already offers both pure water and spring water in Brisbane/Gold Coast/Sunshine Coast as well as Melbourne. This is now extended to Sydney as well.
For more information, please contact:
Henry Heng Managing Director [email protected]
31 August 2009
Australia’s largest producer of distilled drinking water
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www.refreshpurewater.com.au www.sunshowersprings.com.au www.distilledwater.net.au www.hydr8water.com.au www.ozwaterfilters.com.au
Refresh Waters Pty Ltd (ACN 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 – 14 Bando Rd, Springvale Vic 3171 T: (03) 95623877 F: (03) 95623177 E: [email protected] Sydney – 3 Salisbury St, Silverwater, NSW 2128 T: (02) 97484200 F: (02) 97484366 E: [email protected] Refresh Waters Queensland Pty Ltd (ACN 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]