DS Waters of America, Inc. and The Standard Companies, Inc. signed an asset purchase agreement whereby DS Waters will acquire substantially all of the assets of Standard. The transaction is expected to close in late March, 2012, subject to regulatory clearance.
DS Waters, one of the country's largest providers of home and office bottled water delivery service, with a growing presence in office coffee services and water filtration systems, will benefit from The Standard Companies' nationwide distribution network, which provides brewed coffee and tea beverages, equipment, condiments, water filtration systems and related items to offices, restaurants and food service organizations throughout the U.S.
Standard operates three business units: Standard Coffee Service®, StandGuard Quality Water Assurance® and Relyant Coffee Equipment Services™. Standard Coffee Service has serviced commercial customers through its route based business for 45 years. StandGuard, established in 1991, provides filtered water solutions to commercial customers and Relyant Coffee Equipment Services has provided equipment installation and maintenance services for brewed beverage equipment, as well as water filtration dispensing units, since 2009.
As the significant resources of these two companies are combined, DS Waters will assume management of the nationwide delivery for all Standard Coffee® customers.
"I am excited to welcome the customers and associates of Standard to the DS Waters family. We look forward to continuing the unparalleled commitment to superior service and quality products that Standard Coffee has offered its customers for over 40 years," said Dillon Schickli, CEO of DS Waters in a prepared statement.
Anthony Gregorio, president and CEO of Standard commented, "I have had the privilege to run Standard Coffee for the past seven years and look forward to partnering with a team of proven professionals that will continue to focus on preserving our brands and continue the emphasis on the exceptional service that our customers expect."
"The combined strength of these two companies will not only enhance our customer offerings but improve our national footprint with the addition of new service territories," said Tom Harrington, President and COO of DS Waters.