Royal Spring Water Receives Letter of Intent from Crystal Splash
Contract Valued at More than $6,000,000
Royal Spring Water, Inc., a bottler and distributor of Artesian spring water, announced has received a letter of intent with a minimum three-year contract valued at more than $6,000,000. The letter was signed by the vice president of Crystal Splash. To date, this brings the value of Royal Spring Water's LOI's to more than $6,500,000 per year, and more than $19,500,000 for the next three years.
Lahav Gabay, vice president of Crystal Splash, said, "We are excited to have Royal Spring Water as our provider of bottled spring water, enabling our expansion into school districts located in the eastern part of the U.S. Their high quality of bottled water, competitive pricing and high production capacity will help our company further build current relationships with distributors and school districts while delivering a great product throughout the country. We welcome the financial savings and health advantages from obtaining our supply of bottled water from Royal Spring Water, in turn allowing us to strengthen our company as a market leader."
Alex Hazan, RSW's CEO and chairman of the board,
said, "With our high quality of bottled water, we will help Crystal Splash meet their goal of providing healthy water to the school districts they serve. Our exceptional quality and competitive pricing will assist Crystal Splash in servicing their expanded target market in a faster, more profitable manner."