Multinational food and drinks giant, Nestle has announced the acquisition of Essentia Water, a premium functional water brand based in Washington.
Worthing $192 million in sales the past year, Essentia produces ionized alkaline water, being the leading brand in that space in the United States. Now it will be part of Nestle USA Premium Waters portfolio together with Perrier, San Pellegrino, and Acqua Panna.
In a statement, Nestle acknowledged that is sharpening its portfolio to focus on “international premium and mineral water brands and healthy hydration products, such as functional water”.
Commenting on the deal, Nestle USA Chairman and CEO, Steve Presley, said: “With the addition of Essentia we continue to transform and best position our water business for long-term profitable growth here in the U.S. and globally. Essentia gives us an immediate strong presence in the high-growth, functional water segment and supports our efforts to capture opportunities with emerging consumer trends such as healthy hydration”.
Source: Nestle Press Release