Company to instead focus on international brands,
VEVEY, Switzerland — Nestle is considering selling most of its Nestle Waters business in North America, excluding its international brands.
This would include its regional spring water varieties–like Poland Spring, Deer Park and Ice Mountain–along with its purified water business and beverage delivery service. Its direct-to-consumer and office beverage delivery service brands include ReadyRefresh by Nestle and the Nestle Pure Life brand.
The review of potential sales is expected to be complete by early 2021, according to the Vevey, Switzerland-based company.
Nestle plans to instead focus on its international brands, leading premium mineral water brands and investing in differentiated healthy hydration, including functional water products, its board of directors decided on June 11. The board said it intends to explore strategic acquisitions to grow in this category.
Its international brands–including Perrier, S.Pellegrino and Acqua Panna–have been “timeless performers” in the waters portfolio, Nestle said.
Nestle Waters North America business, excluding international brands, took in sales of about $3.4 billion in 2019. Nestle’s global Waters sales amounted to $7.8 billion in 2019, according to the company. The portfolio includes 48 water brands and a tea brand across five continents.
Nestle’s board also decided to make its entire global water portfolio carbon neutral and replenish associated watersheds by 2025.
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