Nestlé Canada has a buyer for its Nestlé Pure Life bottled water business. The Toronto-based operation will be selling the business to private label bottled water producer Ice River Springs, pending the completion of a regulatory review process. The companies expect the deal to close in the third quarter of 2020.
"In late 2019, we began the exploration of a potential sale of our Nestlé Pure Life business in Canada, as we had determined that we are best positioned to focus on our iconic international brands of San Pellegrino, Perrier and Acqua Panna," said Jeff Hamilton, president and CEO of Nestlé Canada. "We are pleased that Ice River Springs, a local Canadian company with a focus on sustainability, has agreed to purchase this business."
Shelburne, Ontario-based Ice River Springs said that the buy is part of its efforts to expand its offerings beyond private label in Canada. Along with the sale will come two factories — one in Ontario and another in British Columbia — as well as a well in Ontario. The family-owned company also produces the Ice River Green brand of bottled water and runs a recycling operation.
"This is a significant step in our strategic sustainability journey and with the addition of this iconic brand, their 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," said Sandy Gott, executive vice president and co-owner of Ice River Springs.