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  3. Food & Beverage
  4. Aqua
Aqua logo
Food & Beverage

Who Owns Aqua?

Aqua is a bottled water brand owned by Danone (Euronext Paris: BN), a publicly traded French multinational food and beverage company headquartered in Paris, France. Founded in 1973 by Tirto Utomo in Indonesia, Aqua is the dominant bottled water brand in Indonesia. Danone acquired a majority stake in PT Tirta Investama, the company behind Aqua, in 1998.

Parent Company

Danone S.A.

Acquired

1998

Status

Publicly Traded

Headquarters

Jakarta, Indonesia

Aqua Timeline

1919
Danone S.A.

Parent company established in Paris, Ile-de-France, France

Company Founded
1973

Aqua

Founded by Tirto Utomo

Founded
1998
Acquired by Danone S.A.

Danone S.A. acquired Aqua

Acquired
mass marketAsia PacificOfficial Website

Who Owns Aqua?

  • Parent Company: Danone S.A.
  • Ownership Type: Wholly owned
  • Acquisition Year: 1998
  • Company Type: Publicly Traded
  • Stock Ticker: Euronext Paris: BN
BrandParent CompanyOwnership Type
AquaDanone S.A.Wholly owned

Where to Buy

Disclosure: We may earn commission from purchases
AmazonAqua on Amazon

History of Aqua

  • Founded: 1973
  • Founders: Tirto Utomo
  • Acquired by Danone S.A.: 1998

Aqua was founded in 1973 by Tirto Utomo, an Indonesian businessman who recognized the need for safe, clean drinking water in Indonesia. At the time, tap water in Indonesia was not reliably safe to drink, and Utomo saw an opportunity to provide purified bottled water to Indonesian consumers. The company was initially called PT Golden Mississippi and launched the Aqua brand as its flagship product.

The early years were challenging. Bottled water was a new concept in Indonesia, and many consumers were skeptical about paying for water. Utomo and his team worked to educate consumers about the benefits of purified water and the risks of drinking contaminated tap water. The brand's name, Aqua (Latin for water), was chosen for its simplicity and universal recognition.

Aqua's growth accelerated through the 1980s as Indonesia's middle class expanded and awareness of water quality issues grew. The brand established multiple production facilities across Indonesia to meet growing demand and ensure product freshness. Aqua became the dominant bottled water brand in Indonesia, synonymous with bottled water in the same way that Xerox became synonymous with photocopying.

In 1998, Danone acquired a majority stake in PT Tirta Investama (the company behind Aqua) for approximately $70 million, integrating Aqua into its global water portfolio. The acquisition gave Aqua access to Danone's global resources, technology, and distribution expertise. Tirto Utomo, the founder, passed away in 1994, but his family remained involved in the business.

Under Danone's ownership, Aqua has continued to grow and expand. The brand has invested heavily in sustainability initiatives, including programs to reduce plastic waste, improve water source management, and support local communities near its production facilities. Aqua's sustainability efforts reflect both Danone's corporate values and growing consumer expectations around environmental responsibility.

Aqua has maintained its dominant position in the Indonesian bottled water market, with a market share estimated at over 40% in Indonesia. The brand is available across Indonesia through an extensive distribution network that reaches even remote areas of the archipelago.

About Danone S.A.

What does Danone own?
Danone owns approximately 20 major brands across three segments. In Essential Dairy and Plant-Based, it owns Activia, Actimel, Oikos, Danone, Alpro, Silk, and STōK. In Waters, it owns evian, Volvic, Aqua, and Mizone. In Specialized Nutrition, it owns Aptamil, Nutrilon, Nutricia, Nutrison, Neocate, and Kate Farms. The company sold or deconsolidated Horizon Organic in 2024.

Is Danone publicly traded?
Yes. Danone S.A. is publicly traded on Euronext Paris under the ticker BN. The company is a component of the CAC 40 index. An ADR program trades on the OTCQX platform under the symbol DANOY for U.S. investors. There is no parent company or controlling shareholder.

Who founded Danone?
Danone was founded in 1919 by Isaac Carasso in Barcelona, Spain. Carasso named the company after his son Daniel, whose nickname was "Danon." The company began by producing yogurt using cultures from the Pasteur Institute, positioning yogurt as a health food. Daniel Carasso expanded the business to France in 1929.

Where is Danone headquartered?
Danone is headquartered in Paris, Ile-de-France, France. The company's corporate offices, including executive leadership and global functions, are based in Paris, with major operational centers and manufacturing facilities across Europe, North America, Asia, and Latin America.

How many brands does Danone own?
Danone owns approximately 20 major brands across its three segments. The most prominent are Activia, Actimel, Oikos, Alpro, Silk, evian, Volvic, Aqua, Aptamil, Nutricia, and Kate Farms. The company's portfolio is focused on health-focused food and beverage rather than indulgence products.

Who owns Danone?
Danone is an independent publicly traded corporation with no parent company. The company is owned by institutional investors, mutual funds, pension funds, and individual shareholders who hold its Euronext Paris-listed shares. Major institutional holders include BlackRock, Vanguard Group, and European pension funds. There is no founder control or dual-class share structure.

What were Danone's recent financial results?
For FY2025, Danone reported sales of €27.3 billion, up 4.5% like-for-like, with recurring EPS of €3.80, up 4.6%, and recurring operating margin of 13.4%, up 44 basis points. In H1 2026, sales were €13.9 billion, up 3.5% like-for-like, with recurring EPS of €1.92. The company confirmed 2026 guidance of 3% to 5% like-for-like sales growth.

Is Danone B Corp certified?
Yes. Danone achieved worldwide B Corp certification in 2025, independently verified by B Lab. This was the culmination of a decade-long process and makes Danone one of the largest food and beverage companies to hold this certification. The company is also recognized on the CDP Triple A List for climate, water, and forest performance.

  • Founded: 1919
  • Headquarters: Paris, Ile-de-France, France
  • Company Type: Publicly Traded
  • Stock: Euronext Paris: BN
  • Revenue: €27.3 billion (FY2025); €13.9 billion (H1 2026)
  • Employees: Over 90,000

Visit Danone S.A. website

View full company profile for Danone S.A.

Where Is Aqua Made / Based?

  • Headquarters: Jakarta, Indonesia

Aqua Categories & Tags

Bottled WaterDrinking WaterPurified WaterIndonesiaIndonesian BrandDanone

Aqua Sustainability & Ethics

Danone achieved B Corp certification for its global operations in 2025, covering Aqua along with all other Danone brands. Danone was one of the first major multinational food companies to attain the B Corp designation across its full corporate group.

Aqua has publicly committed to achieving 100% circularity for its plastic packaging in Indonesia, with a stated goal of recovering more plastic from the environment than it produces. Aqua's actual performance against this target has been disputed by environmental organizations, as detailed in the Recalls & Controversies section.

Danone publishes an annual Integrated Annual Report that includes sustainability metrics for water usage, packaging circularity, and carbon emissions across all brands including Aqua. Danone's water stewardship programs include watershed protection projects in the Ciburial and Kubang catchment areas in West Java, where several Aqua production facilities are located.

Awards & Recognition

Aqua holds SNI (Standar Nasional Indonesia) certification for drinking water quality, the Indonesian national standard for bottled water, as required of all bottled water brands sold in Indonesia.

Danone's B Corp certification (2025) applies to Aqua as part of the Danone corporate group. The B Corp designation is administered by B Lab, a U.S.-based nonprofit.

Aqua has received recognition from the Indonesian Ministry of Environment for its AQUA Peduli program, a community-based waste collection initiative operating in several Indonesian cities. No independently verified industry award data is available for Aqua beyond these governmental and certification recognitions.

Aqua Recalls & Controversies

Aqua has faced significant controversies related to plastic pollution, environmental impact, and sustainability claims, reflecting the broader challenges facing the bottled water industry in Southeast Asia and globally.

Plastic Pollution Leadership (2024): Aqua was identified as Indonesia's largest plastic polluter according to a comprehensive river litter audit conducted by environmental NGO Sungai Watch. The audit found that Aqua bottles were the most common type of trash found in Indonesian rivers, accounting for 13% of plastic waste in some waterways. This finding was particularly notable given Aqua's B Corp certification and public sustainability commitments, creating significant tension between the brand's environmental claims and its actual environmental impact.

Plastic Offsetting Project Suspension (2024): Danone's plastic offsetting project in Indonesia, which was part of Aqua's sustainability strategy, was suspended following community allegations. The project, registered under Verra's plastic credit programme, was suspended after complaints that a recycling facility built by a local partner in Bali was constructed illegally close to residential areas without proper community consultation. The facility was accused of impacting community health and breaching housing regulations.

Environmental Justice Concerns: Indonesian environmental campaigners criticized plastic offsetting projects like Danone's as attempts to avoid addressing the root causes of plastic pollution. Groups like the Plastic Diet Movement argued that companies should focus on reducing plastic production rather than investing in removal schemes. The Indonesian government has set a target for 30% waste reduction by 2025, putting pressure on major plastic users like Aqua to reform their practices.

Bali's Biggest Polluter Label: Environmental NGOs have specifically identified Aqua as Bali's biggest plastic polluter, raising questions about the brand's environmental claims versus its actual impact. This designation has created tension between Aqua's marketing as a sustainable water provider and its role in contributing to plastic pollution in popular tourist destinations and local communities.

Circular Packaging Claims Scrutiny: Aqua's commitment to achieving 100% circularity by recovering more plastic from the environment than it uses by 2025 has faced scrutiny from environmental groups. Critics argue that such claims may be misleading given the brand's continued production of single-use plastic bottles and the challenges of implementing effective recycling infrastructure in Indonesia.

Community Health Impact: The suspended plastic offsetting project highlighted concerns about the health impacts of plastic recycling facilities on local communities. Residents near the Samtaku Jimbaran facility in Bali reported health issues related to the facility's operations, raising questions about the environmental justice implications of plastic waste management projects.

Sustainability Certification Controversy: Aqua's B Corp certification has been questioned by environmental groups given its role as Indonesia's largest plastic polluter. Critics argue that the certification may not adequately account for the full environmental impact of single-use plastic packaging and the brand's contribution to plastic pollution in waterways and communities.

Water Resource Management: Aqua has faced questions about the sustainability of extracting and bottling water resources in Indonesia, particularly in regions facing water scarcity. Environmental groups have raised concerns about the long-term impact of commercial water extraction on local water tables and community access to clean water resources.

Regulatory Compliance Issues: The plastic offsetting project suspension highlighted potential regulatory compliance issues in Aqua's sustainability initiatives. The facility's construction without proper permits and community consultation demonstrated gaps in the company's due diligence processes for environmental projects.

Consumer Trust Challenges: The controversies have created challenges for Aqua in maintaining consumer trust, particularly among environmentally conscious consumers who expect sustainable practices from B Corp-certified brands. The gap between Aqua's sustainability messaging and its environmental impact has led to increased scrutiny from consumers and advocacy groups.

Aqua Ownership: Pros & Cons

Advantages

  • +Backed by Danone's significant financial resources and beverage expertise
  • +Access to Danone's global distribution networks and supply chain
  • +Professional quality control and production standards
  • +Integration with Danone's sustainability and health initiatives
  • +Strong brand recognition in Southeast Asia
  • +Significant investment in production and distribution infrastructure

Considerations

  • -Regulatory oversight from water and beverage authorities
  • -Competition from other bottled water brands
  • -Dependency on Danone's strategic priorities
  • -Environmental concerns related to plastic packaging
  • -Changing consumer preferences toward sustainable packaging
  • -Exposure to water quality and safety regulations

Frequently Asked Questions About Aqua

Sources & Further Reading

  • Aqua Official Website -
  • Danone Sustainability -
  • Danone Impact Journey -
  • Danone B Corp Certification -
  • Danone Water Stewardship -
  • Greenpeace Unearthed: Danone Plastic Offsetting Investigation -
  • Eco-Business: Aqua Plastic Pollution Audit -
  • Eco-Business: River Trash Audit Response -
  • Danone: Aqua Plastic Pledge -
  • Verra: Plastic Credits Programme -
  • Plastic Diet Movement Indonesia -
  • Sungai Watch: River Cleanup NGO -
  • Euronext Paris: Danone Stock -
  • Danone Indonesia Sustainability Report 2024 -
  • Wikidata Entry for Aqua -
  • Southeast Asia Water Access Initiatives -

Competitors to Aqua

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
AquafinaAquafina
Pepsico
USA
1994
Mass marketGlobalAll Genders
Core HydrationCore Hydration
Keurig Dr Pepper
USA
2015
PremiumUnited statesAll Genders
DasaniDasani
Coca Cola Company
USA
1999
Mass marketGlobalAll Genders
EvianEvianSister Brand
Danone
France
1826
Global premium-still-water-leaderGlobalAll Genders

Learn More About Competitors

AquafinaFood Beverage

Aquafina

Owned by PepsiCo, Inc.

American brand of purified bottled water produced by PepsiCo, featuring both still and flavored water products distributed in more than 30 countries.

bottled-waterpurified-waterbeverage
Core HydrationFood Beverage

Core Hydration

Owned by Keurig Dr Pepper

Premium purified water with balanced pH and added electrolytes, owned by Keurig Dr Pepper.

purified-waterenhanced-waterhydration
DasaniFood Beverage

Dasani

Owned by The Coca-Cola Company

Purified bottled water brand owned by The Coca-Cola Company (NYSE: KO). Launched in 1999, Dasani is Coca-Cola's fourth-largest brand by volume in North America and holds approximately 12% global market share in bottled water.

bottled-waterpurified-waterbeverages
EvianFood Beverage

Evian

Owned by Danone S.A.

French premium natural mineral water brand sourced from a protected Alpine aquifer above Evian-les-Bains, France. Owned by Danone S.A. (Euronext Paris: BN) since 1970, Evian is sold in more than 140 countries and celebrated its 200th anniversary in 2026. All Evian plastic bottles are made from 100% recycled PET.

bottled-watermineral-waterpremium-water

Competitive Analysis

Market Positioning: Aqua competes with 4 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

Independent Alternatives to Aqua

Looking for brands with different ownership structures? These similar brands are not owned by Danone S.A., giving you alternative choices that support different corporate structures.

Baby RuthFood Beverage

Baby Ruth

Owned by Ferrero

American chocolate candy bar with peanuts, caramel, and chocolate, founded in 1921 by Curtiss Candy Company and owned by Ferrero Group since January 2018.

chocolateconfectionerycandy
Privately Owned

Baby Ruth is privately owned, unlike Aqua which is under a publicly traded parent company.

BarillaFood Beverage

Barilla

Owned by Barilla Group

Italian pasta and food brand owned by Barilla Group, a leading global pasta and sauce manufacturer.

pastafooditalian
Privately Owned

Barilla is privately owned, unlike Aqua which is under a publicly traded parent company.

ButterfingerFood Beverage

Butterfinger

Owned by Ferrero

American candy bar brand known for its peanut butter and chocolate flavor, owned by Ferrero Group.

candy-barchocolatepeanut-butter
Privately Owned

Butterfinger is privately owned, unlike Aqua which is under a publicly traded parent company.

CelebrationsFood Beverage

Celebrations

Owned by Mars, Incorporated

British chocolate assortment brand featuring a variety of chocolate candies, owned by Mars, Incorporated and distributed globally.

chocolateassortmentcandies
Privately Owned

Celebrations is privately owned, unlike Aqua which is under a publicly traded parent company.

Cheez-ItFood Beverage

Cheez-It

Owned by Mars, Incorporated

American brand of cheese cracker snacks owned by Mars, Incorporated through its Kellanova subsidiary. Created in 1921 in Dayton, Ohio.

snackscrackerscheese
Privately Owned

Cheez-It is privately owned, unlike Aqua which is under a publicly traded parent company.

CrunchFood Beverage

Crunch

Owned by Ferrero

Milk chocolate and crisped rice bar introduced by Nestle in 1938, now produced in the United States by Ferrara Candy Company (Ferrero) and globally by Nestle.

chocolateconfectionerycandy
Privately Owned

Crunch is privately owned, unlike Aqua which is under a publicly traded parent company.

Danone S.A. Stock Information

Jobs at Danone S.A.

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Last reviewed: June 1, 2026 · Reviewed by Who Brands Editorial Team