ECGS - Shares Of Water Bottler Moving Higher On Merger Agreement
2025-03-12 12:10:00 ET
Despite a rough patch for the broader markets of late, M&A deals are still in full force. Today, a new deal was inked in the water industry.
Shares of Eco-Growth Strategies, Inc. (OTCPK: ECGS) are on the move higher as the company, a bottler specializing in purified and spring water, announced earlier this morning that it had executed a merger agreement to acquire all assets of Hawaiian Springs Water Company (HSW). The plant is situated on approximately 7 acres of leased facilities near Hilo, HI. The main bottling facility is approximately 33,000 square feet, which includes warehousing. The plant facility also includes a solar farm (PV) providing an alternative power source to the existing power facilities.
The acquisition, valued at $4.5 million, is contingent on successful due diligence and the company's planned uplisting to a senior exchange by the end of Q2 2025. ECGS is actively working to meet the necessary requirements to complete both the uplisting and the transaction.
Hawaiian Springs Water, founded over 20 years ago, has a presence in approximately 20,000 locations across Hawaii and mainland USA. The brand generates approximately $4 million in annual revenue, with distribution in grocery and retail outlets as well as online platforms.
W.J. ( Bill) Delgado, CEO of ECGS, stated, "This acquisition enhances our Hawaiian Isles Water brand by adding a premium spring water product sourced from the pristine lava rock formations of the Big Island. With strategic investment in plant infrastructure and bottling equipment, we anticipate increased demand and expanded market opportunities."
As mentioned off the top, shares of ECGS are currently trading up 9.48% at $0.2299 in late-morning trading as investors applaud the merger announcement.
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