1142 days ago
Nestle sells its North American water brands for $4.3 billion
Bottled-water sales boomed in recent decades, particularly in the U.S.—Nestlé’s biggest water market—as consumers cut back on sugary soft drinks. But growth has slowed lately as the category matures and consumers opt for sparkling and flavored waters, which are drunk in smaller quantities. Mainstream bottled water has faced fierce competition from store brands, making the category less attractive for Nestle, which in recent years has sought to sharpen its focus on faster-growing, more lucrative products such as infant formula, coffee and plant-based foods.
