VEVEY, SWITZERLAND – Nestle SA is seeking options for its North American Waters business that includes such brands as Poland Spring, Deer Park, Ice Mountain and Arrowhead as well as a direct-to-consumer and office delivery service. The business generated approximately $3.6 billion in 2019, according to the company.
At the same time the company affirmed its commitment to its international waters business. Perrier, S Pellegrino and Acqua Panna are the main brands within the international portfolio. The global business had sales of approximately $8.3 billion in 2019.
Management said it will further grow the global business by investing in differentiated products under its Nestle Pure Life brand. Options include investing in functional waters that feature ingredients perceived as healthy.
“The creation of a more focused business enables us to more aggressively pursue emerging consumer trends, such as functional water, while doubling down on our sustainability agenda,” said Mark Schneider, chief executive officer. “This strategy offers the best opportunity for long-term profitable growth in the category, while appealing to environmentally and health-conscious consumers. Nestle is one of the pioneers in the global water business and remains committed to healthy hydration. We are working tirelessly to ensure that consumers can enjoy our beverages in an environmentally responsible way.”
Nestle has been aggressively paring its North American business. On June 9, the company announced plans to sell its Buitoni North American pasta business to a private equity company. In December 2019, the company sold its US ice cream business for $4 billion, and that same year it exited its company-owned direct-store delivery network for pizza and ice cream.