Swiss food giant Nestle on Tuesday 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 US$4.3 billion. 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.
Nestle sells Pure Life bottled water business as changes to Ontario groundwater rules loom
Nestle Canada Inc. says it is selling its Pure Life bottled water business to Ice River Springs as Ontario prepares to give its municipalities veto power over new water bottling permits. The sale for an undisclosed price is expected to close in the third quarter and is contingent on regulator approval. The sale includes two factories located in Puslinch, Ont., and Hope, B.C., along with a well in Erin, Ont.