Nestle’s board of directors agreed to concentrate on buying international and mineral-water brands and growing its own companies, such as San Pellegrino sparkling water, while making its entire portfolio carbon-neutral by 2025. It will also explore what to do with its U.S. and Canadian regional brands, the company announced Thursday.
As part of the largest food and beverage company in the world, Nestle’s bottled-water businesses, which include brands such as Pure Life and Deer Park, had their worst performance in a decade last year. Discount water brands have bitten hard into Nestle’s U.S. and Canadian assets. The company seeks creative alternatives, such as water dispensers for refillable bottles, to offset its use of plastic, according to Bloomberg News.
As of 2019, Poland Spring ran a pump station and bought water from Lincoln and nine other water sources in the state while employing 860 people, including workers at bottling plants in Poland, Hollis and Kingfield, according to the Sun Journal.
A federal judge in Connecticut dismissed a class-action fraud lawsuit against Nestle Waters North America Inc. in May 2018 by not ruling on allegations that the bottles filled from sites around Maine actually contain common groundwater.
Nestle has not hesitated to sell underperforming subsidiaries and has gotten good prices for them, according to Bloomberg.
The exploration process will conclude in 2021, the company said.
Nestle is headquartered in Vevey, Switzerland.