The transaction is part of Nestlé’s transformation of its global water business, in which the company is looking to focus on international premium and mineral water brands and healthy hydration products. Nestlé announced in February that it has agreed to sell its U.S. and Canadian regional spring water brands, purified water business, and beverage delivery service, in pursuit of a more focused portfolio.
Nestlé already owns Perrier, S. Pellegrino, San Pellegrino, and Acqua Panna.
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“With the addition of Essentia we continue to transform and best position our water business for long-term profitable growth here in the U.S. and globally,” said Steve Presley, Chairman and CEO of Nestlé USA, in the press release. “We are excited to welcome the Essentia team to the Nestlé family as we expand our premium water portfolio. Essentia gives us an immediate strong presence in the high-growth, functional water segment and supports our efforts to capture opportunities with emerging consumer trends such as healthy hydration.”
