Press Release: Nestle: Nestlé continues strategic transformation of water business, agrees on sale of Nestlé Waters North America brands

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Vevey, Februrary 17, 2021

Nestlé continues strategic transformation of water business, agrees

on sale of Nestlé Waters North America brands

Nestlé S.A. today announced that it has reached an agreement to

sell its regional spring water brands, purified water business and

beverage delivery service in the U.S. and Canada to One Rock Capital

Partners in partnership with Metropoulos & Co. for USD 4.3 billion. The

Company's international premium brands including Perrier(R),

S.Pellegrino(R) and Acqua Panna(R) are not a part of the deal. The

transaction is expected to close following the completion of customary

closing conditions.

The sale includes the following brands in the U.S. and Canada, which had

sales of around CHF 3.4 billion in 2019: Poland Spring(R) Brand 100%

Natural Spring Water, Deer Park(R) Brand 100% Natural Spring Water,

Ozarka(R) Brand 100% Natural Spring Water, Ice Mountain(R) Brand 100%

Natural Spring Water, Zephyrhills(R) Brand 100% Natural Spring Water,

Arrowhead(R) Brand Mountain Spring Water, Pure Life(R) and Splash. It

also comprises the U.S. direct-to-consumer and office beverage delivery

service ReadyRefresh(R).

The agreement follows Nestlé's announcement last year that it would

conduct a strategic review of parts of the North American waters

division and sharpen the focus of its global water portfolio.

Commenting on the transaction, Mark Schneider, Nestlé CEO, said:

"We continue to transform our global waters business to best position it

for long-term profitable growth. This sale enables us to create a more

focused business around our international premium brands, local natural

mineral waters and high-quality healthy hydration products. We will also

boost our innovation and business development efforts to capture

emerging consumer trends, such as functional water."

Nestlé reiterated its commitment to make its entire water portfolio

carbon neutral by 2025. In 2020, Nestlé announced renewed

sustainability commitments which build on existing efforts to enhance

water stewardship and tackle plastic waste.

Contacts:

Media:

Christoph Meier Tel.: +41 21 924 2200

mediarelations@nestle.com

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Dana Stambaugh Tel.: +1 571 457 3803

dana.stambaugh@us.nestle.com

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Investors:

Luca Borlini Tel.: +41 21 924 3509

ir@nestle.com

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February 16, 2021 21:30 ET (02:30 GMT)