Nestle said recently it would sell Pure Life and some North American water brands for $4.3 billion, to One Rock Capital Partners and Metropoulos & Co. The sale includes brands such as Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead and Splash, as well as U.S. office beverage delivery service ReadyRefresh.

New York-based One Rock said Dean Metropoulos, founder of Metropoulos & Co, would become Nestle Waters North America’s chairman and interim chief executive officer after the deal closes.

“As a private company, the business is expected to have greater resources and flexibility to drive continued growth, strengthen its existing operations,” One Rock partner Kimberly Reed said.

One Rock manages about $3.2 billion of committed capital across three flagship funds.

Read more at: Reuters

By Shubham Kalia in Bengaluru and Devika Syamnath

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