Robotics is being used in an increasing number of applications in the agricultural space. As such, advances in technology are driving growth in the global agricultural robot market.
Dive Brief:
Nestlé acquired Essentia Water, a premium functional brand, for an undisclosed amount, the food and beverage giant said in a statement. Essentia, which makes ionized alkaline water, posted sales in 2020 of $192 million.
Essentia is the leading alkaline water brand and the No. 1 selling bottled water in the natural channel, Nestlé said.
The acquisition of Essentia comes just two weeks after Nestlé sold its North American bottled water business, including brands such as Poland Spring, Deer Park and Pure Life, to private-equity firms One Rock Capital Partners and Metropoulos & Co. for $4.3 billion.
Dive Insight:
When Nestlé announced last month it was officially selling much of its water business, the deal was trumpeted as a way for the CPG giant to focus on its international premium brands including Perrier and San Pellegrino, as well as local natural mineral waters, healthy hydration products and functional water.