March 5, 2021
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.