Nestlé: sells North American waters to private equity firm

(CercleFinance.com) - Nestlé is continuing to transform its waters business to position it for long-term profitable growth, aiming to focus on its international premium brands.


On Wednesday, the Swiss food giant said that it had reached an agreement to sell its regional spring water brands, purified water business and beverage delivery service in the US and Canada to private-equity firm One Rock Capital Partners for 4.3 billion dollars.

The deal includes brands such as Poland Spring, Ice Mountain, Arrowhead and Pure Life, which together had sales of around 3.4 billion Swiss francs (about 3.8 billion dollars) in 2019.

The agreement also includes its US direct-to-consumer and office beverage delivery service, called "ReadyRefresh."

The Vevey-based company's international premium brands including Perrier, San Pellegrino and Acqua Panna, are not a part of the deal.

The move follows Nestlé's announcement last year that it would conduct a strategic review of parts of its North American waters business, with the aim of sharpening the focus of its portfolio.

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