Nestle Waters Divests Factory, German Brand to Former ExecutivesRandall Hackley
Nestle Waters is selling its Loehnberg, Germany, factory and Neuselters water-bottling brand to two former employees as part of a portfolio readjustment.
The Nestle SA division gave no terms of the acquisition by Neuselters Mineral Springs GmbH, run by two former members of Nestle Waters Germany AG, Egon Heckmann and Hans-Achim Daschmann.
The deal, which takes effect Jan. 1, came about because Nestle Waters Germany in Mainz decided to focus its water business on the core brands Vittel, San Pellegrino, Acqua Panna and Fuerst Bismarck, Nestle said today in a statement.
Nestle, based in Vevey, Switzerland, is the world’s largest food company. Its 2013 revenue from water was about 6.8 billion Swiss francs ($7 billion). Nestle owns some 60 water brands including Pure Life, the world’s best-selling label.