Apollinaris, the German table water producer controlled by private equity firms Lion Capital and Blackstone Group, has been acquired by Coca-Cola. The business became a unit of Orangina in 2006 following the £1.26bn buyout of Cadbury Schweppes by Blackstone and Lion.
Although no financial details have been disclosed, Thomson Financial’s database shows that in 2002, Apollinaris was bought by Cadbury Schweppes in a deal valuing the business at €229m. It became part of the UK company’s European beverage business and was renamed Apollinaris & Schweppes.
Apollinaris employs 470 staff and produces 195m litres of water a year.