The sale of Nestlé Waters to Canadian water bottling firm Ice River Springs has not gone through.
Nestlé issued a news release Wednesday saying that the two companies "were not able to work through the Competition Bureau’s regulatory approval process within Nestlé’s set timeframe to allow for a successful sale of the Nestlé Pure Life business in Canada to Ice River Springs."
The deal included the Nestlé plant in Aberfoyle.
The release said the deal, announced on July 2, was always contingent upon efficient regulatory approval.
The company's water bottling business will now be part of a corporate North American review. That review will explore strategic options, including a possible sale, for the Nestlé Waters business in the U.S. and Canada, said the company.
"The North American strategic review is expected to conclude by early 2021 and will offer the Canadian business the opportunity for sustained, long-term, profitable growth."
