Nestle the food and drink processing conglomerate corporation and one of the largest food company in the world, is selling its bottled water brand for $4.3 billion.A Pasco county brand Zephyrhills Natural Spring Water which pumps water from nearby crystal spring into bottles throughout the southeast.
The company is selling its bottled water brands ( Deer Park, Arrowhead, Poland Spring, Zephyrhills, Pure Life and Ozarka) to a subsidiary of one rock capital partners and investment firm Metropolis & CO.
to a subsidiary of one rock capital partners and investment firm Metropolis & CO.
Melonie Monson, The president and CEO of the Greater Zephyrhills Chamber of Commerce said :
“As someone who grew up here, the Zephyrhills water brand has been an institution, and one we have been proud of,”
“Our hopes will be that the facility here in Zephyrhills will continue to keep running strong and no jobs will be lost in this transition.”
The deal which is expected to close this spring will create one of the largest beverage companies in the U.S.
Dean Metropoulos, who previously led turnarounds at Pabst Brewing and Hostess Brands will serve as CEO and chairman of the independent company that will lead the brands acquired from Nestle.
Nestle said that it intends to concentrate on its International premium water brands, including S. Pellegrino, Acqua Panna and Perrier which wasn’t a part of deal.
U.S. bottled water had outsold soft drinks for the fourth year in a row in 2019 according to the International Bottled Water Association.
Nestle’s North American water business has more than 7,000 employees spread across 27 production facilities and it sources water from 38 active springs throughout the U.S.
The brand Zephyrhills is profoundly associated with the town that shares the name so much that it’s official seal features “City of pure Water.”
