New Jersey American Water and Gordon’s Corner Water Company Reach Acquisition Agreement

CAMDEN, N.J.--(BUSINESS WIRE)-- New Jersey American Water announced today that an agreement has been reached for it to acquire Gordon’s Corner Water Company (Gordon’s Corner), a privately owned water company that serves approximately 15,000 customers in portions of Colts Neck, Manalapan and Marlboro Townships. The company is located adjacent to and northwest of New Jersey American Water’s Monmouth System.

“This transaction represents the right succession plan for Gordon’s Corner Water Company, ensuring that our customers remain at the forefront of every decision,” stated David Ern, President of Gordon’s Corner Water Company. “By selling to New Jersey American Water, we are prioritizing the long-term quality and reliability of water service for generations to come.”

New Jersey American Water plans to gradually connect the Gordon’s Corner system with its systems in Monmouth County to maintain reliable service. This will create additional redundancy in the region, which experiences increased demand for water during peak tourism and irrigation months. The project is also intended to help ensure adequate water supply to the area. Additionally, New Jersey American Water is committed to offering employment to approximately 20 employees from Gordon’s Corner Water Company, who take pride in providing water services in these areas.

“We are honored to have the opportunity to serve customers in parts of Colts Neck, Manalapan and Marlboro, and we appreciate that the leadership at Gordon’s Corner Water Company is entrusting us with this privilege,” said New Jersey American Water President Mark McDonough. “This acquisition is primarily about ensuring continuity of service for Gordon’s Corner customers as their company transitions out of ownership. Integrating Gordon’s Corner into our operations will help support long-term stability in the region’s overall stressed water supply.”

New Jersey American Water and Gordon’s Corner will seek approval of the acquisition from the New Jersey Board of Public Utilities (NJ BPU). The transaction is expected to be completed by mid-2026.

Under the terms of the transaction, New Jersey American Water will acquire Gordon’s Corner, with its shareholders receiving AWK common stock via merger in exchange for all their issued and outstanding shares. Following this merger, Gordon’s Corner will be merged into New Jersey American Water.

New Jersey American Water intends to adopt the current rates of Gordon’s Corner at closing. The NJ BPU regulates the company's rates, and any future rate changes would be reviewed and approved by the NJ BPU. New Jersey American Water offers grants and discounts to customers who qualify through its H2O Help to Others Program.

About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water's 6,700 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About New Jersey American Water
New Jersey American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 2.9 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.

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Media Contact:

Chelsea Kulp

Director, Communications and External Affairs

New Jersey American Water

chelsea.kulp@amwater.com

Source: New Jersey American Water