The sale of Nestlé’s North American bottled water business, whose brands include Poland Spring and Pure Life, is reportedly under close consideration by private equity firm One Rock Capital Partners LLC, according to news outlets citing people familiar with the matter.
The Nestlé brands for sale, which also include Arrowhead, Deer Park, Ice Mountain, Ozarka Zephyrhills, along with debt, have and estimated value of over $4 billion, the news outlets reported. The news was first reported by Reuters.
It was revealed in June that Nestlé, which also makes Kit Kat chocolate-covered wafer bars and Nescafé freeze-dried coffee, was exploring the possible sale of part of its North American water business. The present negotiations with One Rock are said to be exclusive, but uncertain.
New York City-based One Rock describes itself as a strategic and financial resource to middle-market companies in North America. Its portfolio is comprised of companies in various industries, from chemicals and processing, and specialty manufacturing and healthcare products, to food manufacturing and distribution.
The size of the global bottled water market is expected to reach $505.19 billion by 2028, according to a new report by Grand View Research Inc.
