Nestle Canada Inc. is selling its Pure Life bottled water business to Shelburne-based bottled water producer, Ice River Springs.
The sale for an undisclosed price, is contingent on regulator approval and is expected to close in the third quarter.
The deal includes two factories in Puslinch and Hope, B.C., along with a well in Erin.
Nestle Canada president Jeff Hamilton says the company began exploring the sale of its water rbusiness late last year and shift focus on its international brands of San Pellegrino, Perrier and Acqua Panna.
Meanwhile, Ice River Springs says the acquisition is in line with its vision of expanding beyond its private label business for retailers.
The news comes as Ontario prepares to give municipalities veto power over new water bottling permits.
One of the proposals the province is considering is requiring companies looking for a new or increased permit for water bottling, to get approval from municipalities.
