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Allied Brands to acquire Awesome Water for $12.2m

Sarah Stowe

Leading franchise distributor of water coolers and filters in Australia and New Zealand, Awesome Water, is to be bought by Allied Brands in a $12.1m deal. Allied Brands, owner, operator and developer of franchises, will acquire 100 per cent of Awesome Water when the deal is signed in early January 2008.

Allied Brands will pay $7.1m in cash and shares, with a maximum earn out of $5m in shares.

Since opening in 2003 Awesome Water has grown to include over 60 franchisees across Australia with an average turnover of $13m this financial year and a 40,000 strong customer following.

Peter Graham, Allied BrandsÍ managing director, said of the purchase, “This is a significant acquisition for Allied Brands because it takes the companyÍs portfolio of brands beyond shopping centres and is the first step in a broader strategy of developing a number of income streams from both retail and non-retail sources.”

He continued, “We expect to make further acquisitions in the product and service area as part of this strategy.”

Teamed with Allied Brands other franchises, including Baskin Robbins, Cookie Man and KennyÍs Cardiology, the company will have more than 100,000 customers on its database once the acquisition is completed.