Water rights activists concerned over sale of Poland Spring



[ad_1]

Water rights activists on Saturday denounced the potential sale of bottled water brand Poland Spring, saying the buyer identified in press reports posed a new threat to state resources.

A crowd that organizers say has reached around 100 gathered for the rally sponsored by Community Water Justice to voice their concerns.

GET FOX BUSINESS ON THE ROAD BY CLICKING HERE

Nickie Sekera, co-founder of the group, said she was concerned that a private equity firm might be less responsive than Nestlé, relieving the company of any responsibility it pledged to communities in Maine.

Teleprinter security Latest Change % Change
THOUGHT n / A n / A n / A n / A

Nestlé has not been a good neighbor, “but at least a company like Nestlé to some extent will be sensitive to a poor public image,” she said.

Nestlé announced in June that it was considering selling its bottled water brands in North America. In Maine, Nestlé has more than half a dozen water sources and two bottling plants, employing 860 people.

PEPSICO expects revenue to increase in 2021 as vaccines go into effect

Rally participants are concerned about reports suggesting the Swiss company is negotiating the potential sale with One Rock Capital Partners LLC, a New York-based private equity firm.

Nestlé declined to comment on the negotiations. A One Rock spokesperson did not return a message.

Brands for sale include Deer Park, Ozarka, Ice Mountain, Zephyrhills, and Arrowhead, in addition to Poland Spring.

ANHEUSER-BUSCH INVESTS $ 1B TO MODERNIZE AMERICAN FACILITIES

Maulian Dana, Tribal Ambassador for the Penobscot Nation, said the Penobscot people “know how precious and life-giving water is to our tribal communities and the state as a whole.”

CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS

“We oppose the action proposed by Nestlé and One Rock Capital Partners – and remind our friends and neighbors that water is life,” she said in a statement.

[ad_2]

Source link