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Nestlé Canada to sell bottled water business to Ice River Springs

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July 6, 2020

Nestlé Canada Inc. has agreed to sell its Nestlé Pure Life bottled water business to Ice River Springs for an undisclosed sum, according to a press release. The Canadian Nestlé Pure Life business is independent of the North American strategic review that was announced a few weeks ago.

"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 Inc., said in the press release. "We are pleased that Ice River Springs, a local Canadian company with a focus on sustainability, has agreed to purchase this business."

The acquisition of the Nestlé Pure Life branded business fulfills a strategic ambition of Ice River Springs to expand the company's offering in Canada beyond private label. The sale includes two factories located in Puslinch, Ontario and Hope, British Columbia, along with a well in Erin, Ontario.

The sale is contingent on completion of the regulatory review process and the deal is expected to close in Q3 2020.

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. With a diverse portfolio of companies committed to sustainability, 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.