UPDATE: Nestlé closes the sale of Nestlé Waters North America brands to PE firm for $4.3 billion

Nestlé S.A. today announced the closing of the sale of Nestlé Waters North America brands to One Rock Capital Partners in partnership with Metropoulos & Co. for $4.3 billion.

This follows the completion of customary closing conditions.

One Rock Capital Partners is a value-oriented, operationally focused private equity firm with $5.0 billion of cumulative capital commitments. They enhance the value of middle-market businesses by bringing world-class operational, strategic, and financial resources to its portfolio companies. They actively employ the expertise of Operating Partners and the global resources of Mitsubishi Corporation, their strategic partner.

Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest food company in the world, measured by revenue and other metrics, since 2014.

Metropoulos & Co is a leading, family-owned investment firm that leverages extensive industry knowledge, operational expertise and flexible capital to revive and reimagine brands and businesses in the food and beverage, consumer products, and other diversified sectors. Over the course of four decades, the firm has invested in more than 80 entities.