Nestle SA on July announced that it is going to revamping its portfolios & divesting its assets ever since Mark Schneider became the CEO in 2017 and now on Feb 17 Nestle announced that it will be selling its bottled water business to One Rock Capital Partners for $4.3 billion.
The deal will be going ahead with partnering with Metropoulos & Co. and the sale includes brands like Poland Spring & Deer Park but it does not include any of it’s premium brands like Perrier, San Pellegrino and Acqua Panna. The deal is part of Nestle’s strategic review as it plans to sharpen focus of its global water portfolio and focuses more on fast growing products like coffee and pet food while shifting away from snacks business.
Nestle CEO Schneider has caved to the pressure by activist and has decided to move world largest food & beverage company away from convenience foods & has started investing in a plant-based products by launching a first ever vegan KitKat.