Nestle is exploring a potential sale of part of its North American water business, including the Pure Life brand, it said on Thursday, as the food giant shifts focus to better performing brands.
The business under review also includes regional spring water brands like Poland Spring and generated sales of 3.4 billion Swiss francs ($3.61 billion) last year, accounting for almost half of total water revenue.
Nestle Waters has struggled for years, posting just 0.2% growth last year, prompting an overhaul of the business late last year.
“We are withdrawing from a bulk business to focus on high-value (water) specialities,” Nestle Chief Executive Mark Schneider told Reuters by phone. “We can then grow…organically and through acquisitions.”