The sale of the Poland Spring water business is official, as of Thursday, but whether there will be any changes in Maine is not yet clear.
Nestle SA, which sold Poland Spring to private equity interests, had a one-line press release Thursday saying the deal had closed but offered no other information.
The deal, which was first announced in February, included regional spring water brands, including Maine-based Poland Spring, to a pair of private equity firms for $4.3 billion.
The buyers are an affiliate of One Rock Capital Partners LLC, a New York-based investment firm focused on high-potential middle market businesses, and Metropoulos & Co., a family-owned backer of several food and beverage brands including Hostess Brands, Utz snacks, Pabst Brewing Co. beer and Ghirardelli Chocolates. Dean Metropoulos serves as CEO of the company.
Swiss food conglomerate Nestlé SA has agreed to sell several North American regional spring water brands, including Maine-based Poland Spring, to a pair of private equity firms for $4.3 billion.
The buyers are an affiliate of One Rock Capital Partners LLC, a New York-based investment firm focused on high-potential middle market businesses, and Metropoulos & Co., a family-owned backer of several food and beverage brands including Hostess Brands, Utz snacks, Pabst Brewing Co. beer and Ghirardelli Chocolates.
A spokesman for Nestlé was not immediately available to comment on interest from other potential suitors or when talks with that led to the transaction began. Coca-Cola Co. and PepsiCo Inc. had previously been cited by Bloomberg News as potential buyers for the brands.