Mountain Valley Spring Water IPO plans go dry

Post-acquisition, IPO plans for Mountain Valley Spring Water in Hot Springs, Ark., have fizzled, according to a letter from its CEO.

In an April 1 dated letter to the U.S. Securities and Exchange Commission, Mountain Valley Spring CEO James B. Speed III withdrew the company’s registration statement required for an initial public stock offering. He simply said the company “does not desire to pursue an offering of its securities at this time.”

According to Arkansas Business, Mountain Valley took the first steps to become a publicly traded company in December 2011, but since then, there hasn’t been much activity.

Last month, the green-bottled water company was acquired by Kansas City investment group Great Range Capital. Mountain Valley, which is reportedly the nation's oldest continuously operated bottled water company, recently hired 40 workers and posted a 38 percent revenue increase in 2013, according to Arkansas Business.

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