Nestlé sells its water bottling operations to Ice River Springs
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The sale, for an undisclosed amount, includes two factories located in Puslinch, Ontario and Hope, British Columbia, along with a well in Erin, Ontario.
In an all-Canadian deal, beverage supplier Nestlé Canada Inc. is selling its Nestlé Pure Life bottled water business to bottled water producer Ice River Springs for an undisclosed amount.
The sale includes two factories located in Puslinch, Ontario and Hope, British Columbia, along with a well in Erin, Ontario.
“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,” Jeff Hamilton, president and CEO of Nestlé Canada, said in a statement. “We are pleased that Ice River Springs, a local Canadian company with a focus on sustainability, has agreed to purchase this business.”
Founded in 1995 and headquartered in Shelburne, Ont., Ice River Springs is a private label bottled water producer for retailers and manufacturer of the Ice River Green brand of bottled water. The company has 14 locations across Canada and the U.S., and also 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 [acquisition] 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.
Until completion of the regulatory review process, the Nestlé Pure Life bottled water business will continue to be run by Nestlé Canada. The deal is expected to close in the third quarter of 2020.