Announced
Financials
Sources
Tags
Private
Single Bidder
China
water
Domestic
Soft Drinks
Majority
Friendly
Acquisition
Pending
Synopsis
Tsingtao Brewery, a beer producer and distributor in China, agreed to acquire the Chinese water business from Nestle, a Swiss multinational food and drink processing firm, for £72m ($97m). Nestlé's water business in China includes the global brand Nestlé Pure Life and the local brand Dashan Yunnan Shan Quan. "This strategy offers the best opportunity for long-term profitable growth in the category, while appealing to environmentally and health-conscious consumers," Mark Schneider, Nestle CEO.
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