Four Firms Guide Nestlé’s $4.3 Billion Sale of U.S. Water Unit

Mayer Brown is advising Nestlé SA on its $4.3 billion sale of U.S. and Canadian bottled-water brands to private equity firm One Rock Capital Partners, law firms involved in the deal said.

Latham & Watkins and Canadian firm Stikeman Elliott LLP are representing One Rock Capital, which is partnering with Metropoulos & Co. Paul, Weiss is advising Metropoulos, a family-owned investment firm.

The acquisition of Stamford, Ct.-based Nestlé Waters North America includes its Poland Spring, Pure Life, and Deer Park brands, among others. It does not include the Swiss food giant’s international premium waters Perrier, San Pellegrino and Acqua Panna.

The sale also includes 27 production facilities across North America and a direct-to-consumer and office beverage delivery service, according to a statement.

After closing, expected in the spring, the company, which has about 7,000 employees in the U.S. and more than 230 in Canada, will be run by Dean Metropoulos, who founded his family’s investment firm and has a reputation for turning around struggling food and beverage brands, including Hostess Brands and Pabst Brewing Co.

“We are thrilled to partner with Dean, a highly accomplished investor and operator with proven success reimagining brands and businesses around the world, to lead NWNA,” said One Rock partner Kimberly D. Reed.