The water brands that are part of the deal include, Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead, Pure Life, and Splash. Credit: PRNewsfoto/Nestle SA.

Nestlé has reached an agreement to divest its Nestlé Waters North America (NWNA) brands for a consideration of $4.3bn to One Rock Capital Partners in partnership with Metropoulos & Co.

Under the agreement, Nestlé will sell its regional spring water brands, purified water business and beverage delivery service in the US and Canada.

Nestlé CEO Mark Schneider said: “We continue to transform our global waters business to best position it for long-term profitable growth.

“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.

“We will also boost our innovation and business development efforts to capture emerging consumer trends, such as functional water.”

Nestlé said that it will retain its international premium water brands including Perrier, San Pellegrino and Acqua Panna.

Completion of the deal is subject to customary closing conditions.

The water brands that are part of the deal include Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead, Pure Life and Splash.

The deal also includes the company’s US direct-to-consumer and office beverage delivery service ReadyRefresh.

One Rock managing partner Tony W Lee said: “Nestlé Waters North America’s iconic brands have earned the trust and preference of consumers everywhere due to an uncompromising commitment to quality.

“We are excited to further this commitment and build upon the market leadership of the business alongside the Company’s talented management team.”

Last year, the company announced that it would conduct a strategic review of parts of the North American waters division and focus on its global water portfolio.