On Wednesday, Nestle SA said it will be selling its North American water brands including Poland Spring and Pure Life to private equity firms Metropoulos & Co and One Rock Capital Partners for $4.3 billion.
The sale also includes brands such as Arrowhead, Deer Park, Ice Mountain, Splash, Ozarka, and Zephyrhills along with U.S. office beverage delivery service ReadyRefresh.
In June 2020, Nestle had said it was exploring a potential sale of part of its North American water business; earlier this month, it had said it was in talks with One Rock Capital for such a sale.
Nestle has clarified, its premium international brands including Acqua Panna, Perrier, and S.Pellegrino are not part of the agreement. “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,” said Nestle’s CEO Mark Schneider in a statement.