Nestlé sells off tea brands to sharpen focus on bottled water
Zurich — Nestlé has sold two of its iced tea brands in North America as the world’s biggest food maker presses ahead with reshaping its business to focus on new trends and consumer healthcare. Private equity firm Fireman Capital Partners said on Monday it had linked up with Dunn’s River Brands to buy the Sweet Leaf Tea and Tradewinds businesses from Nestlé North America. The deal, for an undisclosed sum, is expected to be completed by the end of 2017. Nestlé, which is also looking to sell its US confectionery business, declined to say if other sales within the drinks business were planned. The sale was part of its strategy of focusing on its core waters brands in North America, which include Poland Spring and Arrowhead, Nestlé said. "We took this difficult but important step to position us to further deliver upon our healthy hydration ambitions," a Nestlé spokeswoman said.
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