Nestlé USA today announced that it has acquired Essentia Water ('Essentia'), a premium functional water brand headquartered in Bothell, Washington. Essentia pioneered ionized alkaline water more than twenty years ago and is the leading brand in that space in the U.S. Essentia's 2020 sales were USD 192 million.
This transaction is part of Nestlé's continued transformation of its global water business, which was announced in June 2020. The company is sharpening its portfolio to focus on international premium and mineral water brands and healthy hydration products, such as functional water. This follows the agreement to sell Nestlé's U.S. and Canadian regional spring water brands, purified water business and beverage delivery service announced in February.
'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,' said Steve Presley, Chairman and CEO of Nestlé USA. 'We are excited to welcome the Essentia team to the Nestlé family as we expand our premium water portfolio. 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.'
Read the full Nestlé USA press release
Nestlé SA published this content on 05 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2021 18:08:02 UTC.