NRI billionaire Yusuffali To Buy UK's 'Harrogate Spring Water'
NRI billionaire Yusuffali To Buy UK's 'Harrogate Spring Water'

NRI billionaire and the owner of Lulu Group, M A Yusuffali, has completed the process to acquire British bottled water brand Harrogate Spring Water for an undisclosed sum. Founded in 2002, the family-owned Harrogate Water Brands hold the rights for Harrogate Spring Water.

“The deal to acquire Harrogate Spring Water is in the final stage and it is expected to be completed during the first half of the current calendar year itself,” said a source who is aware of the matter. Since 2016, Yusuffali’s Lulu Group had been selling Harrogate Spring Water through its supermarket chain.

For the last three years, Harrogate Spring Water had been the official supplier of spring water to the Ascot Racecourse. Apart from the usual retail sales through supermarkets, it is also being supplied to the UK’s Royal Army, Navy and Air Force bases around the world.

When contacted, Yusuffali confirmed his plans to acquire “a British spring water brand”, but did not divulge the name of the company or brand. “The deal will be finalised in two or three months’ time,” he said.

Yusuffali had been aggressively investing in real estate projects and sourcing centres in the UK. “We are investing 300 million pounds in various projects that include ‘Great Scotland Yard’, the old headquarters of the Scotland Yard, The Waldorf Astoria-Edinburgh, and a food processing plant in Birmingham,” he said.

He said the Great Scotland Yard will be opened as a hotel at the end of this year.

 
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