Nestle Completes Sale Of Poland Spring To Private Equity Firms
Nestle announced yesterday it has sold Poland Spring, and its other bottled water brands to two private equity firms.
The two, One Rock Capital Partners and Metropoulos and Company, will pay $4.3 billion dollars for the brands, all of which operate and sell bottled water in North America.
Poland Spring employs about 860 people in Maine with three bottling plants and ten water sources in the state.
Nestle will continue to own and operate international premium water brands, including Perrier and S. Pellegrino.
Dean Metropoulos, who led turnarounds at Hostess Brands and Pabst Brewing Co., will serve as chairman and interim CEO of the company.
Nestle’s North American water business has 27 production facilities and more than 7,000 employees.
The Associated Press contributed to this report.