The Abu Dhabi-listed Agthia Group has acquired a 100% stake in UAE mineral water desalination company Riviere, a move which the company said will triple its household customer base and expand its network in the water and food segment with a revenue growth of 6.5%.

Agthia, which will retain the existing brand, said the move will also allow the company to enter the mainstream segment by employing Riviere’s customer base in supplying water to offices and homes across the UAE.

Financial details of the transaction, which is subject to regulatory approvals, have not been disclosed. 

Established in 2003, Riviere serves customers across Abu Dhabi, Al Ain, Dubai, and Sharjah, primarily in the mainstream segment. It operates three bottling facilities in Abu Dhabi and Dubai.

The acquisition comes a week following Agthia’s announcement that Salmeen Al Ameri will take over as Managing Director and CEO effective June, replacing Alan Smith who will stay on as adviser. The company said the leadership transition was part of its next phase of growth and transformation.

(Writing by Bindu Rai, editing by Brinda Darasha)

bindu.rai@lseg.com