ARLINGTON, VA. – A few weeks after entering into an agreement to divest its Nestle Waters North America (NWNA) business, Nestle SA has acquired Essentia Water, Bothell, Wash. Terms of the agreement were not disclosed.
Essentia Water is a processor of ionized alkaline water. The company generated $192 million in sales in 2020, according to Nestle USA.
“With the addition of Essentia we continue to transform and best position our water business for long-term profitable growth here in the US and globally,” said Steve Presley, chairman and chief executive officer of Nestle USA. “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.”
Nestle is in the process of transforming its global waters business. In mid-February, the company announced it was selling NWNA for approximately $4.3 billion to a partnership of the private equity firms One Rock Capital Partners and Metropoulos & Co. The transaction is expected to be completed in the spring.
The company retained ownership of its Perrier, S. Pellegrino and Acqua Panna water brands.
Mark Schneider, CEO of Nestle SA, Vevey, Switzerland, said when the NWNA deal was announced that the company would focus its water innovation and business development efforts on emerging consumer trends such as functional water.