Betta4U Brands Inc. announced Thursday it acquired alkaline bottled water company NEO Water for an undisclosed amount.

The acquisition was comprised primarily of cash and stock.

Charlotte-based Betta4U Brands is a portfolio beverage company targeting a $300 million public offering through the acquisition and organic growth of established brands. It is led by veteran beverage executive Bernard Rubin, who has spent 15 years in executive leadership positions for beverage companies including Cott Beverages.

The acquisition of NEO Water is part of Betta4U’s target of $100 million in annualized revenues from expanding its portfolio of beverage companies over the next 24 months.

“NEO has done a remarkable job in building a strong brand, a rare breadth of distribution and a loyal consumer following,” said Rubin in a statement. “We are more than excited to integrate this unique brand and welcome NEO as a leader of our water segment.”

NEO Water is a consumer beverage company founded in 2011 by entrepreneur and investor Ben Behrouzi.

“It is with great pleasure that we welcome this strategic acquisition and we look forward to the expansion of the NEO brand both domestically as well as internationally,” said Behrouzi.

The press release can be found here.