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After 112 years of local ownership, Mount Olympus Waters Inc. has been sold to an Atlanta-based company, DS Waters of America Inc.
Terms were not disclosed. Nor did officials of the two companies respond to requests for information about the impact of the acquisition on the 90 to 100 people employed in the distribution of bottled water collected in the Mount Olympus wilderness area above Salt Lake County.
Former employees who asked not to be identified estimated one-third to one half of the staff has been let go, with the largest cuts in the customer service, marketing and information technology departments — functions DS Waters already was set up to provide.
"While DS Waters appreciates your inquiry about the acquisition of Mount Olympus, we would have no further comments on this private transaction and certainly no additional comments beyond our press release that was circulated" earlier this month, said DS Waters spokeswoman Shayron Barnes-Selby in response to a Salt Lake Tribune e-mail.
In that statement, William Bailey, who bought Mount Olympus in 1963, said he has known DS Waters' leaders for a number of years through their mutual membership in the International Bottled Water Association.
"I wanted to hand Mount Olympus over to a team of proven professionals that will continue to focus on preserving the brand with continued emphasis on quality, growth and exceptional customer service," his statement said. "I am both proud and pleased knowing they will take Mount Olympus to the next level."
Although formed only in 2003, DS Waters has become the country's second-largest producer and distributor of bottled water, coffee and water filtration products to home, office and retail settings.
A company release said its water is bottled at more than 25 manufacturing facilities and delivered to more than 1 million homes and offices in 40-plus states. It is a financial sponsor of Susan G. Komen for the Cure, a nonprofit advocacy group for breast cancer research.
The purchase of Mount Olympus Waters was announced four days after DS Waters bought another regional company, Echota Beverage Group Inc. in Knoxville, Tenn.
"Every industry is going through a major consolidation these days. The water supply business is no different," said Clay Groesbeck, owner and president of Murray-based Rocky Mountain Waters.
With the sale of Mount Olympus to out-of-state interests, his company is the largest local distributor of bottled water products.
Groesbeck declined to describe the scope of his company's sales or even the number of its employees, citing the ferocity of competing with a big company such as DS Waters.
"When we first got involved 22-23 years ago, the industry was highly fragmented," Groesbeck said. "But slowly these big groups are eating everybody up."
Still, he expressed optimism that DS Waters' takeover will make his product more appealing to Mount Olympus's former customers.
Mount Olympus "did a good job selling the local company angle, but now they are no longer local," Groesbeck said.
"This sale will change the local landscape, and we're hoping it creates opportunities," he added. "A lot of customers like to pick up the phone and talk to somebody and get service real quick. We're hoping that will be the case."
Mount Olympus Waters
Established in 1898 as Mount Olympus Fruit and Livestock Farm Co.
Originally supplied irrigation water for fruit trees, ice and bottled spring water for use in downtown Salt Lake City
Former owner William Bailey purchased the company in 1963 and changed its name
In 1980, the company built a new bottling and warehouse facility at 1825 S. 3730 West
$4 million renovation in 1997 added high-speed filling lines and processing equipment