December 15, 1999
In the midst of Israeli-Syrian peace negotiations over Syrian recognition of Israel and a possible return of the Golan Heights, Aqua International Partners, a San Francisco-based venture fund, purchases a 25% stake in Israeli bottled water company Mayanot Eden (Eden Springs) for $47.5 million.
The investment comes as Eden Springs is eyeing an expansion into Europe. Despite the coincidence of the timing between the purchase announcement and the talks between Israeli Prime Minister Ehud Barak and Syrian Foreign Minister Farouk al-Sharaa, which begin the same day in Washington, Eden Chief Financial Officer Nir Dor says the business negotiations began before the peace talks were announced.
The venture investment allowed Eden Springs to establish its European headquarters in Switzerland, where it since has expanded its reach and product lines to include water coolers for homes and offices as well as coffee products. The company becomes Europe’s leading provider of water for use in the workplace with more than 600,000 clients. In June 2013, the company sells its Israeli and European operations to New York-based Rhone Capital for nearly $95 million.
The peace talks between Syria and Israel resume in January 2000 in West Virginia but fail to produce meaningful results.
