American Water Works Co. has entered into an agreement to acquire assets of East Pasadena Water Co., a water utility located in Los Angeles County. Following the completion of this acquisition, California American Water will add nearly 10,000 residents in Temple City, Arcadia and the East Pasadena area to the existing customer base in California.
California American Water, through its existing distribution network, serves nearly 690,000 people in California. The companies will now seek approval from the California Public Utilities Commission for the sale. The completion of the sale will ensure that East Pasadena Water Company’s existing customers will start receiving high-quality water services from California American Water.
Per an American Water Works Association report, in excess of 7 billion gallons of water leak out of aging pipes owing to more than 200,000 water line breaks per year in the United States, making consolidation crucial and of utmost importance.
