Ice River Springs Water Receives $15.0M Investment from Key Principal Partners
Summary
Ice River Springs Water Co., a Feversham, Ontario, Canada-based provider of spring and purified, private label bottled water has received a $15.0m investment from Key Principal Partners Corp. , a Feversham, Ontario, Canada-based provider of spring and purified, private label bottled water has received a $15.0m investment from The new capital will support a capital expenditure program and facility expansion that will allow the company to produce recycled PET resin.The rPET pellets will be made entirely from post-consumer materials, which Ice River will then use in the production of its own water bottles.As stated by Sandy Gott, Executive Vice President and co-founder of Ice River Springs, “once the project is complete, we will no longer be dependent on petroleum-based virgin PET resin, which will significantly reduce Ice River’s carbon footprint and provide consumers with a more environmentally friendly bottled water option”.With seven manufacturing plants located throughout Canada and the United States, the company currently provides spring and purified bottled water to both national and regionally-focused grocery retailers, drug stores, mass merchandisers, food service partners and dollar stores.FinSMEs 21/07/2010