Nestle is selling its water- bottling plant in Puslinch Township to family-owned Ice River Springs.
The business has been the target of local residents who don’t want water taken from the aquifer at Aberfoyle, just north of the Highway 401 intersection with Highway 6 to Guelph.
The deal includes a plant in British Columbia and a controversial well in Erin Township, north of Guelph.
Nestle president Jeff Hamilton said it began to explore the sale of its water business in late 2019 after deciding to focus on its international brands of San Pellegrino, Perrier and Acqua Panna.
Ice River said the acquisition fulfils its ambition to expand beyond its private label business for retailers.
Ice River Springs runs a plastics recycling operation, BMP Recycling, that takes bottles and plastic food packaging collected by municipalities and produces food grade recycled PET plastic.
The deal comes in the midst of an announcement by the province that it will reform regulations for taking water.
