Eco-Growth Strategies, Inc. Acquires Assets of Hawaiian Isles Water

PR Newswire

HONOLULU, Feb. 25, 2025

The Company has executed a new lease on the 2(nd) largest bottled water plant near Honolulu HI

HONOLULU, Feb. 25, 2025 /PRNewswire/ -- Eco-Growth Strategies, Inc (OTC PINK:ECGS), a premier bottler of purified and spring water, announced today that it has acquired the assets of Hawaiian Isles Water $(HIW)$ based in Aiea, HI. HIW is a 29-year-old brand providing purified bottled water throughout the islands. The assets acquired are all of the branding/IP, bottling equipment, and raw materials inventory. The company has valued these assets at approximately $6M USD. The bottling plant is leased through 2035 from the Lessors.

HIW was on a run rate in FY '2023 of approximately $15M with adjusted Net Income of approximately $2M. The Company (ECGS) has invested approximately $1.2M in retrofitting the plant, including new electrical, lighting, office remodeling, and HVAC repairs. The plant is the second largest bottled water plant in the Hawaiian Islands. It is approximately 55,000 square feet with the capacity of generating $100M through additional equipment installations.

Lewis Cohen, President of ECGS, stated "We are extremely pleased with this acquisition. We intend to maintain the existing customers and expand the customer base with new co-branding/bottling opportunities. The company expects to renew its two existing co-bottling agreements and expects to add two more by the third quarter. The new agreements are expected to add approximately $30M in additional revenue and $7M in net income."

William (Bill) Delgado, CEO of ECGS, added "Our management team, made up of snack food/beverage professionals with an average industry experience of 30+ years each, are excited to re-vitalize this 29-year-old brand. We fully intend to expand within the islands and a major expansion into China, Philippines, South Korea, and Japan by the end of the year. We also have additional acquisitions that will be announced in the coming weeks".

About Eco-Growth Strategies, Inc.

Eco-Growth Strategies, Inc. is a re-focused and re-organized premier bottler of purified and natural spring water focusing on the Hawaiian Islands, Asia, and North America. The company's mission is to employ the best practice and science to source, manufacture, and package the highest quality water products.

SAFE HARBOR ACT

Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan, " "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Lewis Cohen

l.cohen@hawaiianisleswater.com

925-260-6434

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SOURCE Eco-Growth Strategies, Inc.

(END) Dow Jones Newswires

February 25, 2025 08:30 ET (13:30 GMT)