Nestlé USA acquired Essentia Water, a Bothell, Washington-based premium functional water brand.
The amount of the deal was not disclosed.
This transaction is part of Nestlé’s continued transformation of its global water business, with the sharpening of its portfolio to focus on international premium and mineral water brands and healthy hydration products, such as functional water. Essentia joins renowned brands Perrier, S.Pellegrino, San Pellegrino and Acqua Panna as part of the Premium Waters portfolio of Nestlé USA.
Essentia is an alkaline water brand which uses a proprietary process to ionize water, delivering a clean taste and a pH of 9.5 or higher. The company’s 2020 sales were USD 192m.
Commenting on the deal, Steve Presley, Chairman and CEO of Nestlé USA, said: “We are excited to welcome the Essentia team to the Nestlé family as we expand our premium water portfolio. Essentia gives us an immediate strong presence in the high-growth, functional water segment and supports our efforts to capture opportunities with emerging consumer trends such as healthy hydration.“
FinSMEs
06/03/2021