Nestle closes sale of bottled water brands in North America

<p>NEW YORK &mdash; Global food giant Nestle said Wednesday that it has completed the $4.3 billion sale of its bottled-water brands in North America to a pair of private-equity firms.</p>
<p>One Rock Capital Partners, in partnership with Metropoulos &amp; Co., assumed ownership of brands including Poland Spring, Deer Park, Arrowhead, Ozarka, Zephyrhills and Pure Life.</p>
<p>Dean Metropoulos, who led turnarounds at Hostess Brands and Pabst Brewing Co., will serve as chairman and interim CEO of the new company.</p>
<p>The new company hopes to reinvigorate bottled water sales in the U.S., where sales growth has slowed even though the sector has seen growth every year since the 2009 recession.</p>
<p>Nestle’s North American water business had 27 production facilities and more than 7,000 employees. </p>
<p>The Swiss-based company said it intends to sharpen its focus on its international premium water brands, including Perrier, S. Pellegrino and Acqua Panna, which were not included in the deal. </p>