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Hawaii Water Service Enters Into Agreement to Acquire Kapalua Water Company and Kapalua Waste Treatment Company; Terms Not Disclosed

Hawaii Water Service (Hawaii Water), a subsidiary of California Water Service Group (NYSE:CWT), announced today that it has entered into an agreement with Maui Land and Pineapple Company to acquire its Kapalua Water

Benzinga · 12/23/2019 22:12

Hawaii Water Service (Hawaii Water), a subsidiary of California Water Service Group (NYSE:CWT), announced today that it has entered into an agreement with Maui Land and Pineapple Company to acquire its Kapalua Water Company water utility assets and Kapalua Waste Treatment Company wastewater utility assets, and to provide water and wastewater utility service to its approximately 1,000 service connections in the Kapalua Maui resort, subject to certain closing conditions including completion of diligence and Hawaii Public Utilities Commission approval.

Maui Land and Pineapple Company, through its two subsidiaries, Kapalua Water Company and Kapalua Waste Treatment Company, owns and operates the potable water, non-potable water and wastewater systems that serve homes, hotels, condominiums, golf courses, restaurants, and other resort amenities located within the Kapalua resort on the northwest corner of Maui. Hawaii Water will also serve the expansion areas of Kapalua as they are developed by the Maui Land and Pineapple Company.