North York, ON, September 2, 2020 – Today Nestlé Canada and Ice River Springs are sharing that they were not able to work through the Competition Bureau’s regulatory approval process within Nestlé’s set timeframe to allow for a successful sale of the Nestlé Pure Life business in Canada to Ice River Springs.
This proposed agreement to sell the Nestlé Pure Life business in Canada was announced on July 2 was always contingent upon efficient regulatory approval and if not achieved there was the potential that it would continue to be part the North American review announced on June 11th. The review will explore strategic options, including a possible sale, for the Nestlé Waters business in the U.S. and Canada.
The North American strategic review is expected to conclude by early 2021 and will offer the Canadian business the opportunity for sustained, long-term, profitable growth.
About Nestlé Canada
Nestlé is the world’s largest food and beverage company present in 189 countries. Nestlé in Canada locally manufactures and/or distributes some of the world's most recognized and trusted brands, including LEAN CUISINE, NESQUIK, NESTLÉ GOOD START, HÄAGEN-DAZS, KIT KAT, NESCAFÉ, NESTLÉ PURE LIFE and NESTLÉ DRUMSTICK. Its 4,500+ employees in locations across Canada are committed to Nestlé’s purpose of enhancing quality of life and contributing to a healthier future. In 2016, Nestlé celebrated its 150-year anniversary, and has been present in Canada since 1887. More information and details are available at www.corporate.nestle.ca.
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