London (CNN Business) Nestlé (NSRGY) will sell its North American bottled water business, including Poland Spring, Deer Park, Ozarka and Arrowhead, in a $4.3 billion deal as it focuses on its premium brands. One Rock is partnering with family-owned investment firm Metropoulous & Co. on the purchase, which also includes brands such as Ice Mountain and Pure Life, as well as ReadyRefresh, which delivers beverages to homes and offices. Nestlé premium brands Perrier, S.Pellegrino and Acqua Panna are not part of the deal. "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," said Nestlé CEO Mark Schneider.

Source: CNN February 17, 2021 10:30 UTC