Nestle announced it is selling its bottled-water brands in North America for $4.3 billion to a pair of private-equity firms to reinvigorate sales.
According to the Martinsville Bulletin, brands including Poland Spring, Deer Park, Arrowhead, Ozarka, Zephyrhills, and Pure Life will be sold to a subsidiary of One Rock Capital Partners and investment firm Metropoulos & Co. The deal, expected to close this spring, will create one of the largest beverage companies in the United States.
Like other large, bottled-water companies, Nestle sources a portion of its water from groundwater. The company, which has 27 production facilities in North America, states it sources water from 38 active springs throughout the United States.
U.S. bottled-water sales have grown every year since 2009 as consumers have switched from sugary soft drinks. Bottled water outsold soft drinks for the fourth year in a row in 2019, according to the International Bottled Water Association.
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