Great detective work from FoodDive which guesstimates that the price Nestle paid to acquire could have been as much as $1 billion.
“Essentia reportedly tapped Credit Suisse to handle a sale of itself in 2018. At the time, the company had an estimated $100 million in revenue and projections were it could attract bids in the range of $500 million or more. In the time since then, Essentia’s sales have nearly doubled. Based on the earlier price tag, it’s possible Nestlé is paying close to $1 billion for the brand.“
Nestlé buys functional beverage maker Essentia Water (FoodDive).
- Nestlé acquired Essentia Water, a premium functional brand, for an undisclosed amount, the food and beverage giant said in a statement. Essentia, which makes ionized alkaline water, posted sales in 2020 of $192 million.
- Essentia is the leading alkaline water brand and the No. 1 selling bottled water in the natural channel, Nestlé said.
- The acquisition of Essentia comes just two weeks after Nestlé sold its North American bottled water business, including brands such as Poland Spring, Deer Park and Pure Life, to private-equity firms One Rock Capital Partners and Metropoulos & Co. for $4.3 billion.
Read the full article here on FoodDive.