In 1997, API invested $2.2 million in the Saint Springs Water Company, a producer of premium brand still and sparkling water sold in plastic containers and office coolers. Saint Springs was the first modern or western style producer of bottled water to enter the Russian market. The company grew quickly to reach approximately 20% of the total Russian bottled water market and was the leader in market share and brand identity. The company’s annual revenues had reached $31 million when in 2002 it was sold to Nestle of Switzerland and was the initial entry of Nestle into the Russian bottled water market.