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South Africa: Nestle buyout leads to new bottled water company

By  |  March 4, 2013

A new entity formed by Clover South Africa is the result of Clover’s buyout of Nestle South Africa’s bottle manufacturing business and water rights. Clover, a consumer goods and products group, announced the deal Friday; the acquisition was made for about $6.4 million. The new entity will be called Clover Waters, according to Clover CE Johann Vorster, and will have the rights to sell the bottled waters of Nestle Pure Life, Valvita, and Schoonspruit brands. It will additionally sell ice tea under the Nestea brand. The transaction remains subject to approval by South Africa’s Competition Commission. Nestle would obtain a 30 percent stake in Clover Waters through the deal.

 

Full Content: BDLive

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