One Rock Capital Partners LLC, in partnership with Metropoulos & Co., announced completion of the previously announced acquisition of Nestlé Waters North America (NWNA) from Nestlé S.A.
In conjunction with the completion of the transaction, Dean Metropoulos, an industry veteran with 40 years of experience operating and investing in successful food and beverage brands, has been appointed chairman and interim chief executive officer of the company.
NWNA consists of the former United States and Canadian operations of Nestlé Waters and offers an extensive portfolio of highly recognizable, responsibly sourced, and sustainably packaged regional spring water and national purified water brands. Continuing a longstanding commitment to environmental leadership, the company has 27 production facilities across North America, 16 of which are Alliance for Water Stewardship (“AWS”) certified across 15 sites, with five of the certified facilities being AWS Platinum, the highest-level certification. The company also operates the direct-to-consumer and office beverage delivery service ReadyRefresh, a certified Carbon Neutral business.
Latham & Watkins LLP acted as legal counsel to One Rock, and BofA Securities Inc. and RBC Capital Markets LLC acted as its financial advisors. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Metropoulos & Co. with respect to the transaction.
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