Nestlé announced it has reached an agreement to sell its regional spring water brands, purified water business, and beverage delivery services in the U.S. and Canada to One Rock Capital Partners in partnership with Metropoulos & Co. for $4.3 billion. The company’s international premium brands, including Perrier, S. Pellegrino, and Acqua Panna are not part of the deal – the sale includes Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrillis, Natural Spring Water, Arrowhead, Pure Life, and Splash.
 
Nestlé said that this agreement follows its announcement last year that it would conduct a strategic review of parts of the North American waters division, and focus on its global water portfolio.
 
“We continue to transform our global waters business to best position it for long-term profitable growth,” Mark Schneider, Nestlé CEO, said. “This sale enables us to create a more focused business around our international premium brands, local mineral waters, and high-quality healthy hydration products. We will also boost our innovation and business development efforts to capture emerging consumer trends, such as functional water.”
 
The company said that the transaction also aligns with its commitment to make its entire water portfolio carbon neutral by 2025. In 2020, Nestlé announced renewed sustainability commitments which build on existing efforts to enhance water stewardship and tackle plastic waste.