The Brazilian unit of Nestlé SA has agreed to sell its water business in Brazil to Grupo Edson Quieroz. The latter has been assisted by ABL Fortaleza member, R. Amaral Advogados.

Nestlé said it will sell local brands Sao Lourenço  and Petropolis and three factories in the country to the Brazilian group. The deal value was not disclosed by the companies.

Grupo Edson Quieroz will have the licensing rights to produce Nestle's brand Pureza Vital and distribution contracts of global brands Perrier, S. Pellegrino and Acqua Panna in the country.

The Brazilian group owns competitor water brands Indaiá and Minalba. The transaction is subject to approval by antitrust regulators, the statements said.

Source (New York Times)