Fox Business Flash’s headlines are here. See what clicks on FoxBusiness.com.
Water rights activists on Saturday rejected the potential sale of the Poland Spring bottled water brand, saying the buyer, identified in news reports, is a new threat to the state’s resources.
A crowd estimated by organizers gathered about 100 people gathered for the rally sponsored by Community Water Justice to voice their concerns.
GET FOX BUSINESS ON THE GO by clicking here
Nickie Sekera, co-founder of the group, said she was concerned that a private equity firm was responding less than Nestle, which could absolve the company from any liability it promised to Maine communities.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| NGH | after | after | after | after |
Nestle has not been a good neighbor yet, “but at least a business like Nestle will be somewhat sensitive to a bad public image,” she said.
Nestle announced in June that it was considering selling its bottled water brands in North America. In Maine, Nestle has more than half a dozen water sources and two bottling plants, employing 860 people.
PEPSICO EXPECTATION OF INCOME TO GROW IN 2021 AFTER GIVING EFFECTS
Rally participants are worried about news reports suggesting that the Swiss company is negotiating with One Rock Capital Partners LLC, a private equity firm in New York, over the potential sale.
Nestle declined to comment on negotiations. A One Rock spokesperson did not return a message.
The brands that will be sold include Deer Park, Ozarka, Ice Mountain, Zephyrhills and Arrowhead, in addition to Pool Spring.
ANHEUSER-BUSCH invests $ 1 billion to modernize US facilities
Maulian Dana, tribal ambassador of Penobscot Nation, said the people of Penobscot “know how precious and life-giving water is to our tribal communities and the entire state.”
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
“We are in opposition to the proposed action by Nestle and One Rock Capital Partners – and remind our friends and neighbors that water is life,” she said in a statement.