Nestlé is shedding its less profitable bottled water.
The Swiss giant has found a buyer for its North American spring waters (Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills and Arrowhead), sold in the United States and Canada, as well as for two other related North American activities to this market: its “purified” waters (Pure Life and Splash) which are not mountain waters, and its Ready Refresh home water delivery service.
The One Rock Capital Partners fund acquired it, in partnership with Metropoulos & Co., for 3.5 billion euros.
"This sale allows us to focus on our international premium brands, local mineral waters and high quality healthy hydration products
," said Mark Schneider, CEO of Nestlé, in a statement.
More profitable, the top-of-the-range bottled waters Perrier, San Pellegrino and Acqua Panna thus remain in the bosom of the group.
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