Nestlé Canada to sell Nestlé Pure Life bottled water business to Ontario company
By Colleen Cross
Toronto – Nestlé Canada Inc. has signed an agreement to sell its Nestlé Pure Life bottled water business to Ice River Springs.
The sale is contingent on completion of the regulatory review process and the deal is expected to close in the third quarter of 2020, Nestlé Canada said in a news release.
“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 chief executive officer 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.”
This is a purely Canadian sale and the Canadian Nestlé Pure Life business is now independent of the North American strategic review that was announced a few weeks ago, the company said.
The sale includes two factories located in Puslinch, Onta., and Hope, B.C., along with a well in Erin, Ont.
Ice River Springs is a Canadian family-owned, private-label bottled water producer for retailers and manufacturer of the Ice River Green brand of bottled water. The company 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 is a significant step in our strategic sustainability journey,” 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.