Nestle to Sell Nestle Waters North America Brands for $4.3 Billion
February 16 2021 - 10:38PM
Dow Jones News
By P.R. Venkat
Nestle SA has agreed to sell its Nestle Waters North America
brands to One Rock Capital Partners LLC in partnership with
Metropoulos & Co. for $4.3 billion.
The divestment will see the world's biggest packaged-food
company selling its regional spring water brands, purified water
business and beverage delivery service in the U.S. and Canada,
Nestle said Tuesday.
Nestle's international premium brands including Perrier,
S.Pellegrino and Acqua Panna aren't part of the deal.
The deal is expected to be completed after customary closing
conditions, it said.
The sale includes brands such as Poland Spring Brand 100%
Natural Spring Water and Ice Mountain Brand 100% Natural Spring
Water. Sales in 2019 of these brands in the U.S. and Canada were
around 3.4 billion Swiss franc ($3.81 billion).
The agreement follows Nestle's announcement last year that it
would conduct a strategic review of parts of the North American
waters division and sharpen the focus of its global water
portfolio.
"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," Mark Schneider, Nestle's
chief executive, said.
The company also reiterated its commitment to make its entire
water portfolio carbon neutral by 2025.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
February 16, 2021 22:23 ET (03:23 GMT)
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