California American Water Agrees to Purchase Fruitridge Vista Water Company
April 27 2017 - 5:33PM
Business Wire
California American Water has entered into an agreement to
acquire the operating assets of the Fruitridge Vista Water Company
for $20.75 million and to become the new water provider to its
approximately 4,800 customers.
Fruitridge Vista is a family owned Class B Water Utility in
south Sacramento County and is regulated by the California Public
Utilities Commission. California American Water currently supplies
water service to nearly 60,000 homes and businesses in the
Sacramento region and nearly 180,000 customers within the State of
California. Fruitridge Vista Water Company customers will be served
by California American Water's water treatment and distribution
operators who are experts in their fields certified through the
California State Water Resources Control Board’s Division of
Drinking Water.
"We are pleased to have entered into a contract and look forward
to serving customers in the Fruitridge area,” said California
American Water's Director of Northern California Operations S.
Audie Foster. "Our Parkway water system is just south of Fruitridge
Vista so we know the area well. This acquisition will allow
Fruitridge Vista customers to take advantage of our excellent
conservation and customer service programs.”
"The contract agreement is a step forward and secures long-term
quality service for our customers," said Fruitridge Vista Water
Company owner Robert C. Cook Jr.
Fruitridge Vista Water Company and California American Water
Company will now seek approval for the sale from the CPUC.
California American Water, a subsidiary of American Water (NYSE:
AWK), provides high-quality and reliable water and/or wastewater
services to more than 615,000 people.
Founded in 1886, American Water is the largest publicly traded
U.S. water and wastewater utility company. Marking its 130th
anniversary this year, the company employs more than 6,700
dedicated professionals who provide regulated and market-based
drinking water, wastewater and other related services to an
estimated 15 million people in 47 states and Ontario, Canada. More
information can be found at www.amwater.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170427006912/en/
California American WaterKevin TildenVice PresidentOffice:
619-446-4762Mobile: 619-206-8099Kevin.tilden@amwater.com
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