The Ontario-based bottled water company said that it could not work through the Competition Bureau’s approval process within its target timeframe to allow for a successful sale to private bottled water company Ice River Springs (Shelburne, Canada). Announced in July, the proposed agreement included two factories in Puslinch, Ont., and Hope, B.C., along with a well in Erin, Ont. The transaction – for an undisclosed sum – was reportedly contingent on “efficient” regulatory approval which, if not achieved, meant the Pure Life business would remain under the North American review announced in June and due to finish in early 2021. The Nestlé Waters NA unit includes regional spring water brands, the Pure Life brand, and the ReadyRefresh beverage delivery service.
[Image Credit: © Nestlé Waters North America Inc.]