Globe & Mail 07:58 AM EDT, 07/04/2022 (MT Newswires) -- H2O Innovation Inc. (HEO.TO) after trade last Thursday, at the start of the Canada Day holiday weekend, said it has concluded the acquisition of the business carried on by Leader Evaporator Co., Inc.
H2O said the addition of Leader, which makes and sells maple farming equipment, will allow the company to meet the needs of a greater number of maple syrup producers. It said it will now offer maple syrup products and equipment through a larger distribution network in the United States, with nearly 80 distributors in 10 states.
The water services company didn't disclose any financial details of the acquisition.
"This acquisition will also allow us to increase our manufacturing capacity by operating on both sides of the border, while optimizing our supply chain from key suppliers and consolidating our purchasing power," said Frederic Dugre, President and Chief Executive Officer of H2O Innovation.