Nestle sells North American spring water brands for $4.3b

San Francisco

Swiss food giant Nestle has announced the sale of its regional spring water brands, plus two of its other North American efforts, to One Rock Capital Partners and Metropoulos & Co for $4.3 billion (3.5 billion euros).

The sale includes five of the giant’s spring water brands, including Poland Spring, three of its mountain water brands, its purified water business and its United States and Canada water delivery service, ReadyRefresh, according to a statement.

“This sale enables us to create a more focused business around our international premium brands, local natural mineral waters and high-quality healthy hydration products,” Nestle CEO Mark Schneider said in the statement. The eight brands totaled nearly 3.4 billion Swiss francs (more than 3 billion euros, or $3.8 billion) in sales in 2019.—AFP

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