Nestlé announces sale of the North American domestic water business
Nestlé S.A. yesterday announced that it has reached a deal to sell off its regional water brands, including the Nestlé Pure Life spring water business in Canada, to One Rock Capital Partners, in partnership with Metropoulos & Co. for $4.3 billion. International premium brands, including Perrier, San Pellegrino, and Acqua Panna will be retained by Nestlé. The transaction is now subject to customary closing conditions and is expected to be completed this spring.
Metropoulos & Co. is an investment firm with a history of acquiring food and beverage brands, typically rebuilding and ultimately selling them. Brands within the Metropoulos & Co. portfolio previously included Pabst Brewing Company and Pinnacle Foods Inc. (Duncan Hines, Vlasic pickles, Swanson frozen dinners), in addition to their present minority ownership of Hostess Brands, which went public in 2016.
Save Our Water remains committed to safeguarding the Middlebrook well and protecting our community's groundwater from any and all large-scale commercial water bottling interests. While the recently passed provincial legislation provides municipalities with the power to veto new permits to take water, this veto applies only to permits exceeding a threshold of 379,000 litres of water per day. We will continue to vigorously oppose any new permit to take water for the purpose of commercial water bottling.
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