Temecula-based Venture Net Capital Group Inc. has acquired a majority stake in Yorba Linda’s Coastal Mountain Water Inc. and hopes to build a new water bottling plant in northeast Anaheim next year.
Plans call for a 65,000- to 70,000-square-foot bottling plant with eight 5,000-gallon tanks to be filled daily.
The company plans to receive water from the San Bernardino Mountains, which then will be purified and distributed from the new facility.
Coastal Mountain employs 15 people and is expected to grow to 40 in coming months, according to a Venture Net spokesman.
Coastal Mountain Water provides private label bottled water to Southwest Airlines Co., resorts, country clubs, Las Vegas hotels, and seven Medieval Times theme restaurants. The company also has signed contracts with Alliant Foodservice Inc. and U.S. Foods Services Inc. to provide bottled water. The Alliant contract is valued at $10 million and the U.S. Foods contract is valued at $5 million, according to Venture Net.
Coastal Mountain founder and president Dennis Salmans started the water company a year ago after serving as president of a USFilter water division.
Venture Net plans to invest $500,000 for the construction of the water bottling facility. Steve Rice, senior vice president of sales and marketing for Coastal Mountain, estimates that the new facility could produce annual revenue of $25 million.
