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Nestlé is selling its Ice Mountain, Pure Life, Ozarka water brands for $4.3B

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Posted at 3:01 PM, Feb 17, 2021
and last updated 2021-02-17 15:01:50-05

Nestlé is selling its water business in the United States.

The Swiss company announced they were selling brands including Ozarka, Ice Mountain, Deer Park, Pure Life, and Arrowhead brands for $4.3 billion.

"We continue to transform our global waters business to best position it for long-term profitable growth," said Mark Schneider, Nestlé CEO, in a press release. "This sale enables us to create a more focused business around our international premium brands, local natural mineral waters, and high-quality, healthy hydration products. We will also boost our innovation and business development efforts to capture emerging consumer trends, such as functional water."

The company added that its international water brands Perrier, S.Pellegrino, and Acqua Panna were not part of the deal.

The move comes as the company looks to make its entire water portfolio carbon neutral by 2025.

Last year, the company announced plans to renew sustainability commitments by building on existing efforts to enhance water stewardship and tackle plastic waste.