Diamond Pure has sold its distillery to Chinese buyer for an astounding €7 million, with the brand selling for the first time in six years.
The brand, which produced a total of more than 1,200 bottles in 2016, had been on the brink of bankruptcy and was selling for between €1.6m and €3m in January.
But after the sale to the Chinese buyer, Diamond Pure became the most profitable brand in its history, earning a profit of €7.5m in 2016.
This year, it will sell for around €6.5 million, making it the most successful brand in Diamond Pure’s history.
This means the brand has now sold for a total profit of over €30m in just over four years.
As such, the brand is now valued at more than €30 million, up from the €20 million that Diamond Pure was worth in 2015.
Diamond Pure distiller, Daniel Lauterbach, said that it was “extremely pleased” to sell its distillation plant to the buyer.
“I have been very lucky in my career, and have been lucky enough to work in a very challenging environment and at the right time,” said Mr Lautersbach.
“The work that we do is extremely important to us and we are very happy to sell this iconic brand and build on its success.”
We believe that Diamond is the ideal brand for our company, as it has an innovative, modern approach to producing quality water and a distinctive flavour.
“The company’s founder, Daniel Biering, said: “Diamond Pure is a brand that represents the best of the craftsmanship, craftsmanship and creativity of our people, and is a truly iconic brand in the water distillation business.
“The brand was founded in 1988, and Mr Lautsbach said it was not easy to sell it.”
It was a difficult task, but I believe we made the right decision,” he said.”
A great success story in water distilling and a very good success story for our brand.
“The new owner of the brand, Shanghai International Beverage Co, said the purchase was an important milestone for the brand.”
Our vision for the future of Diamond Pure is to make Diamond Pure one of the leading brands in the global water distillate industry,” it said.
The company is expected to start producing water from its plant in the spring of 2021.