2/17/2021, 5:26 AM (Source: TeleTrader)
more TeleTrader news


Chart for: NESTLE N

Nestle to sell N. America water brands for $4.3B

Food and drink conglomerate Nestle will sell its North American water brands (NWNA) including Poland Spring and Pure Life to private equity firm One Rock Capital Partners and Metropoulos & Co. for $4.3 billion, the companies have announced.

The deal is expected to close in the spring, at which point Dean Metropoulos, the founder of the investment firm, will become the company's chairman and interim CEO.

"This is an important inflection point for the business as it transitions to an independent company, and I look forward to collaborating with One Rock and NWNA's management team to deliver unparalleled value to our customers," Metropoulos said in a statement.

Baha Breaking News (BBN) / JC