Nestlé Canada has agreed to sell its Pure Life bottled water business to an Ontario based bottled water producer called Ice River Springs, according to a press release from yesterday.
Nestlé Canada has been exploring the potential sale of its bottled water business in late 2019 in order to focus on their international brands such as San Pellegrino, Perrier, and Acqua Panna, according Jeff Hamilton, the company’s president and chief executive officer.
“We are pleased that Ice River Springs, a local Canadian company with a focus on sustainability, has agreed to purchase this business,” Hamilton added.
According to the press release, the sale includes two factories, one located in Puslinch, Ontario, one in Hope, British Columbia, and a well in Erin, Ontario.
Ice River Springs, which is a private label bottled water producer and manufacturer of the Ice River Green bottled water brand, said that acquiring Nestlé Pure Life bottled water brand fulfills their ambition to expand the company’s offering in Canada beyond being a private label.
“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,” Sandy Gott, the executive vice-President and co-owner of Ice River Springs, said.
The price of the sale was unspecified, and the sale itself is expected to close in the third quarter of 2020, depending on a regulatory review process.