Nestle selling North American bottled-water brands for $4.3B

(AP) — Global food giant Nestle is selling its North American bottled-water brands for $4.3 billion to a pair of private-equity firms that hope to reinvigorate sales.

Brands including Poland Spring, Deer Park, Arrowhead and Pure Life will be sold to a subsidiary of One Rock Capital Partners in partnership with Metropoulos & Co.

The deal is expected to close this spring. Swiss-based Nestle said it wants to sharpen its focus on its international premium brands, including Perrier.

The new owners hope to boost sales in the bottled-water brands, which have seen slower sales growth in recent years.