Nestle has agreed to sell its Pure Life bottled water brand in Canada to family-owned company Ice River Springs, based in Ontario.
Nestle, which has been taking billions of litres of water from Canadian underground aquifers, completes the sale just as new restrictions on taking groundwater are coming into effect in October.
The sale includes a factory in Puslinch, Ontario, a well in Erin, Ontario, and a factory in Hope, BC. The price was not disclosed. Ice River Springs also runs plastic recycling operation BMP Recycling.
CEO Jeff Hamilton said in a statement that the company had decided to refocus on international brands Acqua Panna, San Pellegrino and Perrier and has been exploring the sale of Pure Life since last year.
First Nation groups, the Council of Canadians and other community groups view the sale as a win for those who have been fighting the bottled water heavyweight to take back control of Canadian water resources.