It has been several years since Trinity Springs water company has bottled its water. That could soon change.
In recent years, the company has been in legal battles with AMCON, a publicly traded company that took over Trinity Springs in a hostile move. Company shareholders regained control of the company but have not had the financial resources to continue operations, instead courting buyers, including Whole Foods, a well-established purveyor of natural foods and beverages.
On Oct. 7 in Boise, shareholders of Trinity Springs Ltd. approved a $20 million merger with Global Resource Partners of Wyoming. The merger, if it is finalized, will provide a cash payout of between $4.80 and $4.90 for each common share in exchange for ownership of Trinity Springs.
Trinity Springs was founded by Jock Bell and Mark Johnson in Ketchum in 1990. The company bottled water from a source near Paradise, west of Fairfield, touting the water free from impurities due to its origins deep below the granite substrata in the region.
"We were pleased to present our shareholders this offer considering the current status of business and today's financial markets," Trinity Springs Chairman and President Joe Roxstrom stated in a news release. "Great efforts were delivered by many people to get us positioned for this transaction."
Also in the news release, William Dean, attorney for the buyers, stated, "It is my client's intention to once again offer this unique spring water to the global marketplace."
The deal is expected to be finalized later this month.
Tony Evans: tevans@mtexpress.com
