Nestlé has announced the termination of a deal to sell its Canadian Pure Life bottled water business to private bottled water company Ice River Springs.
Nestlé Canada said that the two companies had not been able to work through the Competition Bureau’s regulatory approval process within Nestlé’s set timeframe to allow for a successful sale.
Announced in July, the proposed agreement – for an undisclosed sum – included two factories located in Puslinch, Ontario and Hope, British Columbia, along with a well in Erin, Ontario.
The transaction was reportedly contingent on ‘efficient’ regulatory approval. If this was not achieved, there was the potential that the Pure Life business would continue to be part of the North American review announced in June, according to Nestlé.
The review is exploring ‘strategic options’, including a possible sale, for the Nestlé Waters business in the US and Canada.
The Nestlé Waters North America unit includes regional spring water brands, the Pure Life brand and the ReadyRefresh beverage delivery service.
The North American strategic review is expected to be completed by early 2021.
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.