Nestlé finds buyer for Pure Life bottled water business
Canada’s Ice River Springs has agreed to the transaction, which is expected to close in Q3 2020
Nestlé has agreed to sell its Pure Life bottled water business to Ice River Spring. Details of the transaction, which is expected to close in Q3 2020, have not been disclosed at this time. Nestlé pointed out, however, that the sale includes two factories located in Puslinch, Ontario and Hope, British Columbia, along with a well in Erin, Ontario.
The Canadian Nestlé Pure Life is a business unit independent of the North American strategic review that was announced a few weeks ago. In June, Nestlé’ announced its decision to focus on functional drinks and healthy hydration.
The Swiss corporation has been exploring the potential sale of the Pure Life business in Canada since late 2019.
Jeff Hamilton, president and chief executive of Nestlé Canada Inc., commented: “We had determined that we are best positioned to focus on our iconic international brands of San Pellegrino, Perrier and Acqua Panna. We are pleased that Ice River Springs, a local Canadian company with a focus on sustainability, has agreed to purchase this business.”
The acquisition of the Nestlé Pure Life branded business fulfils a strategic ambition of Ice River Springs to expand the company’s offering in Canada beyond the private label.
Ice River Springs is a Canadian family-owned, private label bottled water producer for retailers and manufacturer of the Ice River Green brand of bottled water.
With a diverse portfolio of companies committed to sustainability. Ice River Springs runs a plastics recycling operation, BMP Recycling, that takes bottles and plastic food packaging collected by municipalities and produces food-grade recycled PET plastic.
“This is a significant step in our strategic sustainability journey,” said Sandy Gott, executive vice president and co-owner of Ice River Springs. “With the addition of this iconic brand, the skilled and dedicated people across the country and the resources of this business, we will continue our commitment to sustainable bottled water, the circular economy and to hydrating Canadians.”
Until completion of the regulatory review process, the Nestlé Pure Life bottled water business will continue to be run by Nestlé Canada.