UAE-based food and drinks company Agthia Group has acquired local bottled-water business Riviere Mineral Water Desalination & Filling Factory.
In a statement, Agthia described Riviere as a “strong” brand in the mainstream market.
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Founded in 2003, Riviere, which has 780 staff, runs three bottling plants in Abu Dhabi and Dubai. The company also supplies office customers.
Without disclosing figures, Agthia said the acquisition “triples” its household customer base and “strengthens its operational capabilities”.
The group expects the acquisition to boost revenue of its Water and Food division by approximately 6.5%.
In 2024, the division saw its revenues increase to Dh1.08bn ($294m), while its EBITDA grew by 17.5% to Dh173m.
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By GlobalDataAnnouncing the deal for Riviere, Agthia CEO Alan Smith said the company had seen “strong growth” from its own water business, which includes the Alpin Natural Spring Water and Al Ain Water brands during 2024.
He added: “Entering the mainstream segment allows us to serve a broader customer base while driving operational efficiencies across our network.”
Agthia said the acquisition is expected to be “immediately” accretive to earnings, providing “both short- and long-term value through cost synergies, streamlined operations and shared capabilities”.
Riviere co-owner Ali Moideen Kankayel said: “With Agthia’s leadership, scale and operational expertise, Riviere is well-positioned to enhance customer offerings, accelerate growth, and strengthen its market presence.”
Agthia saw its group net revenue rise 7.7% to Dh4.91bn in 2024. EBITDA declined by 1.5% to Dh679m but net profit increased by 7.4% to Dh322m.
