Vevey, Switzerland — Nestlé SA has a deal to sell its North American bottled water business in the U.S. and Canada to private equity group One Rock Capital Partners and Metropoulos & Co. for $4.3 billion.
Nestle, with global headquarters in Vevey, announced in June that it would "explore strategic alternatives" for the lower-value regional water brands. It is retaining its international brands such as Perrier, S. Pellegrino and Acqua Panna.
One Rock will pick up brands worth 3.4 billion Swiss francs ($3.7 billion), including those bottled as Poland Spring, Zephyrhills, Ozarka and Ice Mountain.
"We continue to transform our global waters business to best position it for long-term profitable growth. 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," CEO Mark Schneider said in a Feb. 17 news release announcing the sale.