NEW YORK (ProOmani/AP) — International meals large Nestle stated Wednesday that it has accomplished the $4.3 billion sale of its bottled-water manufacturers in North America, together with Poland Spring, to a pair of private-equity companies.
One Rock Capital Companions, in partnership with Metropoulos & Co., assumed possession of manufacturers together with Poland Spring, Deer Park, Arrowhead, Ozarka, Zephyrhills and Pure Life.
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In February, The Bangor Each day Information reported that water-rights activists in Maine protested the potential sale. They anxious that the personal fairness firms received’t take note of native considerations.
“It’s a enormous deal,” Nickie Sekera, the co-founder of Group Water Justice, instructed the newspaper. “Nestle is at the least somewhat bit extra attentive to unfavorable press. . . I feel a private-equity agency goes to be even much less attentive to the considerations of Maine folks.”
Nestle employs about 850 employees in Maine. Poland Spring water is sourced from 9 springs within the state.
Dean Metropoulos, who led turnarounds at Hostess Manufacturers and Pabst Brewing Co., will function chairman and interim CEO of the brand new firm.
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The brand new firm hopes to reinvigorate bottled water gross sales within the U.S., the place gross sales development has slowed although the sector has seen development yearly for the reason that 2009 recession.
Nestle’s North American water enterprise had 27 manufacturing services and greater than 7,000 staff.
The Swiss-based firm stated it intends to sharpen its deal with its worldwide premium water manufacturers, together with Perrier, S. Pellegrino and Acqua Panna, which weren’t included within the deal.
(© Copyright 2021 ProOmani Broadcasting Inc. All Rights Reserved. The Related Press contributed to this report.)
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