SPAIN/PORTUGAL: Nestlé Waters sells operations
Nestlé Waters has sold bottled water operations in Spain and Portugal as it looks to focus on a smaller number of key brands in Europe.
The company, the largest bottled water producer in Europe, has offloaded its Spanish Penaclara and its Portuguese Água Castello businesses to Spanish water group Mineraqua for an undisclosed sum.
A Nestlé Waters spokesman told just-drinks that the company wanted to focus on developing its other bottled water brands including Aquarel.
In the nine months to the end of September, Nestlé Waters enjoyed an 8% rise in nine-month revenues to CHF7.5bn (US$6bn).
Nestlé Waters, whose brands include Vittel and San_Pellegrino, has been busy expanding into emerging markets in the last six months. In August, Nestlé Waters announced the merger of its operations in Turkey with local bottled water group Erikli.
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