Great Range Capital, a Kansas City, KS-based private equity firm, recently led a team of investors that have acquired a majority stake in Mountain Valley Spring Co., the 140-year-old company known for its domestically produced premium bottled water. Great Range and other investors, including Mountain Valley CEO Breck Speed and others in company management, purchased the stake from transportation giant J.B. Hunt Transport Services, Inc., which acquired a majority share in the water company in 2004.
“Mountain Valley has an impressive and treasured heritage of providing consumers the finest spring and sparkling spring water,” Speed said in a statement. “Our partnership with Great Range Capital positions us well for continued growth and success. We now have an even greater ability to deliver the high quality products and services our customers have come to expect from Mountain Valley.”
While terms of the sale have not been disclosed, Great Range said that it “primarily targets controlling equity investments in Midwestern companies with revenues ranging from $10 to $150 million.” Last year, the firm acquired Wichita-based Fairbank Equipment, Inc., a supplier of equipment for the agriculture and energy industries.
Packaged in its iconic green-colored bottles, Mountain Valley Spring Water is often noted as the leading domestic brand in a premium water segment that includes Perrier, San Pellegrino, Fiji and VOSS. The company recently added flavored versions of its sparkling water, and in addition to its own Mountain Valley brand, the company co-packs for several other brands around the country, including Talking Rain’s Sparkling ICE.
Last month, the Associated Press reported that Mountain Valley revenue grew by 38 percent last year and added 40 employees to its staff.
Collins Speed Pugh, the Director of Marketing for Mountain Valley told BevNET that there will be “no real changes in terms of how the company is run” and noted that all current management remains in place.
Here is the statement in full from Great Range Capital:
Great Range Capital Acquires Mountain Valley Water Company
Hot Springs, AR, March 3, 2014 – Great Range Capital today announced it recently led a team of investors, including company management, in acquiring Mountain Valley Water Company of Hot Springs, Arkansas.
Mountain Valley, “America’s Premium Water since 1871,” is the oldest continuously operated bottled water company in the United States. It competes in the premium segment of the bottled water market and serves individual consumers, major retailers and food service operators in all fifty states and selected international markets.
“Mountain Valley has an impressive and treasured heritage of providing consumers the finest spring and sparkling spring water,” said Breck Speed, CEO of Mountain Valley. “Our partnership with Great Range Capital positions us well for continued growth and success. We now have an even greater ability to deliver the high quality products and services our customers have come to expect from Mountain Valley.”
“Mountain Valley provides a top-tier domestic alternative to imported premium bottled waters. The company’s historic brand, glass packaging and superior taste and mineral content resonate strongly with today’s conscientious consumers,” said Ryan Sprott, Managing Partner of Great Range Capital. “We are pleased to partner with Mountain Valley and its employees and look forward to building upon its legacy as ‘America’s Premium Water,’” added Paul Maxwell, Managing Partner of Great Range Capital.
Great Range Capital, a private equity firm based in greater Kansas City, primarily targets controlling equity investments in Midwestern companies with revenues ranging from $10 to $150 million.
Learn more about Mountain Valley Water Company at www.mountainvalleyspring.com and Great Range Capital at www.greatrangecapital.com.