Nestle Canada Inc. says it’s promoting its Pure Life bottled water enterprise to Ice River Springs as Ontario prepares to provide its municipalities veto energy over new water bottling permits.
The sale for an undisclosed value is predicted to shut within the third quarter and is contingent on regulator approval. The sale consists of two factories situated in Puslinch, Ont., and Hope, B.C., together with a nicely in Erin, Ont.
Firm president Jeff Hamilton says it started to discover the sale of its water enterprise in late 2019 after deciding to deal with its worldwide manufacturers of San Pellegrino, Perrier and Acqua Panna.
Ice River, a Canadian family-owned bottled water producer, says the acquisition fulfils its ambition to broaden past its personal label enterprise for retailers.
Ice River Springs runs a plastics recycling operation, BMP Recycling, that takes bottles and plastic meals packaging collected by municipalities and produces meals grade recycled PET plastic.
Canada’s most populous province just lately introduced new guidelines for taking groundwater, three years after the previous Liberal authorities enacted a moratorium on new and expanded permits to take water for bottling.