Nestle SA said on Wednesday it will sell its North American water brands including Pure Life and Poland Spring to private equity firms One Rock Capital Partners and Metropoulos & Co for $4.3-billion.
The sale also includes brands such as Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead and Splash, as well as U.S. office beverage delivery service ReadyRefresh.
Nestle, whose products include KitKat chocolate bars and Nescafe coffee, said in June last year it was exploring a potential sale of part of its North American water business. Reuters exclusively reported its talks with One Rock Capital earlier this month.
The company said its international premium brands including Perrier, S.Pellegrino and Acqua Panna 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,” Chief Executive Officer Mark Schneider said in a statement.
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