Nestle to sell North American bottled waters for $4.3B

FILE - This Nov. 10, 2005, file photo shows a bottle of Poland Spring water in Fryeburg, Maine. Global food giant Nestle is selling its North American bottled-water brands for $4.3 billion to a pair of private-equity firms that hope to reinvigorate sales. Brands including Poland Spring, Deer Park, Arrowhead and Pure Life will be sold to a subsidiary of One Rock Capital Partners in partnership with Metropoulos & Co. The deal is expected to close in spring 2021. (AP Photo/Robert F. Bukaty, File)
FILE - This Nov. 10, 2005, file photo shows a bottle of Poland Spring water in Fryeburg, Maine. Global food giant Nestle is selling its North American bottled-water brands for $4.3 billion to a pair of private-equity firms that hope to reinvigorate sales. Brands including Poland Spring, Deer Park, Arrowhead and Pure Life will be sold to a subsidiary of One Rock Capital Partners in partnership with Metropoulos & Co. The deal is expected to close in spring 2021. (AP Photo/Robert F. Bukaty, File)

Global food giant Nestle is selling its bottled-water brands in North America for $4.3 billion to a pair of private-equity firms that hope to reinvigorate sales.

Brands including Poland Spring, Deer Park, Arrowhead, Ozarka, Zephyrhill and Pure Life will be sold to a subsidiary of One Rock Capital Partners and investment firm Metropoulos & Co. The deal, which is expected to close this spring, will create one of the largest beverage companies in the U.S.

Dean Metropoulos, who previously led turnarounds at Hostess Brands and Pabst Brewing Co., will be serve as chairman and interim CEO of the independent company that will house the brands acquired from Nestle.

Swiss-based Nestle said it intends to sharpen its focus on its international premium water brands, including Perrier, S. Pellegrino and Acqua Panna, which were not part of the deal.

Nestle's North American water business has 27 production facilities and more than 7,000 employees. It sources water from 38 active springs throughout the U.S.

The new owners hope to boost the bottled-water brands, which have seen slower sales growth in recent years.

FILE - In this Sept. 21, 2018, file photo, is a closeup of pint bottles of purified water, Pure Life, manufactured by Nestle, on sale in a Ridgeland, Miss., convenience store. Global food giant Nestle is selling its North American bottled-water brands for $4.3 billion to a pair of private-equity firms that hope to reinvigorate sales. Brands including Poland Spring, Deer Park, Arrowhead and Pure Life will be sold to a subsidiary of One Rock Capital Partners in partnership with Metropoulos & Co. (AP Photo/Rogelio V. Solis, File)
FILE - In this Sept. 21, 2018, file photo, is a closeup of pint bottles of purified water, Pure Life, manufactured by Nestle, on sale in a Ridgeland, Miss., convenience store. Global food giant Nestle is selling its North American bottled-water brands for $4.3 billion to a pair of private-equity firms that hope to reinvigorate sales. Brands including Poland Spring, Deer Park, Arrowhead and Pure Life will be sold to a subsidiary of One Rock Capital Partners in partnership with Metropoulos & Co. (AP Photo/Rogelio V. Solis, File)

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