REG - Nestle SA Nestle Holdings Inc - Statement re (Nestlé Waters North America)

Nestle SAAnnouncement

17/02/2021 08:06

RNS Number : 3265P
  
Nestle SA
  
17 February 2021
  
 

Nestlé Press Release
 
Vevey/Switzerland, February 17, 2021
 
 
Nestlé continues strategic transformation of water business, agrees on sale of Nestlé Waters North America brands
 
Nestlé S.A. today announced that it has reached an agreement to sell its regional spring water brands, purified water business and beverage delivery service in the U.S. and Canada to One Rock Capital Partners in partnership with Metropoulos & Co. for USD 4.3 billion. The Company's international premium brands including Perrier®, S.Pellegrino® and Acqua Panna® are not a part of the deal. The transaction is expected to close following the completion of customary closing conditions.
 
The sale includes the following brands in the U.S. and Canada, which had sales of around CHF 3.4 billion in 2019: Poland Spring® Brand 100% Natural Spring Water, Deer Park® Brand 100% Natural Spring Water, Ozarka® Brand 100% Natural Spring Water, Ice Mountain® Brand 100% Natural Spring Water, Zephyrhills® Brand 100% Natural Spring Water, Arrowhead® Brand Mountain Spring Water, Pure Life® and Splash. It also comprises the U.S. direct-to-consumer and office beverage delivery service ReadyRefresh®. 
 
The agreement follows Nestlé's announcement last year that it would conduct a strategic review of parts of the North American waters division and sharpen the focus of its global water portfolio. 
 
Commenting on the transaction, Mark Schneider, Nestlé CEO, said:  "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. We will also boost our innovation and business development efforts to capture emerging consumer trends, such as functional water." 
 
Nestlé reiterated 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.
 
 
 
Contacts
 
Media
 
Christoph Meier
Tel.: +41 21 924 2200
mediarelations@nestle.com
 
Dana Stambaugh
Tel.: +1 571 457 3803
dana.stambaugh@us.nestle.com
 
 
Investors
 
Luca Borlini
Tel.: +41 21 924 3509
ir@nestle.com

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