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Nestlé Waters takes majority stake in UK bottled water company

Nestlé SA said May 31 that its bottled water division Nestlé Waters has acquired a majority stake in Princes Gate Spring Water Ltd.

Princes Gate, a bottled water producer based in the U.K., supplies spring water to retail and out-of-home channels, and also markets it under other brands.

Financial terms of the deal were not disclosed. However, Nestlé noted that David Jones, one of the founders of Princes Gate, will retain a minority stake in the company.

The Swiss consumer goods giant said the transaction would allow Nestlé Waters to address the increasing demand for bottled water in the U.K. and help bolster its market position.