Nestle sold North American water brands for $4.3 billion: the advisors

Nestlé 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 advisors

As reported by Mergermarket, for Nestle Waters North America Charles Broll (pictured left), Executive Vice President, General Counsel and Secretary, worked in the transaction. 

For Nestlé S.A., Leanne Geale (pictured right), Executive Vice President General Counsel, Corporate Governance and Compliance, was involved in the deal. Also, Sanjay Bahadur, Deputy Executive Vice President, Head of Group Strategy and Business Development, was responsible for the in-house strategy.