Here’s the release from Unbottle and Protect Chaffee County Water (Jennifer Swacina):
Nestlé, the world’s largest corporate water bottler, agreed to sell its North American bulk bottled water business (including the Arrowhead brand) to private equity firms One Rock Capital and Metropoulous. This $4.3 billion dollar sale is an especially ominous development in light of Wall Street’s accelerating interest in water trading.
The sale announcement raises many questions about what this means for communities currently entangled in legal hearings and permit negotiations with Nestle Waters. Will Nestle remain a part-owner of the company? In Chaffee County, specifically, will new owners follow through on permit commitments that Nestle has previously made – yet failed to complete – such as a conservation land easement? Are the buyers aware that Nestle failed to meet the required quota for hiring Chaffee County truck drivers, and that Nestle’s latest proposal includes investing in a truck driver training program through Colorado Mountain College?
“Nestle has not proven to be a good neighbor, and the only thing worse than Nestle, is Nestle operating undercover,” said Unbottle and Protect Chaffee County Water co-founder, Jennifer Swacina. “Our commissioners can, at their discretion, simply vote to deny this permit extension. They have all the ammunition they need.”
Unbottle and Protect Chaffee County Water stands in solidarity with other grassroots organizations in Ontario Canada, Maine, Florida, California and Michigan, who have been ringing the alarm about Nestle and water privatization for years. Joint statements have been released through The Story of Stuff Project:
“Nestlé’s motivation is clear: to shed itself of its responsibility for the plastic pollution and environmental degradation its water extraction and bottling has caused and the damage these scandals have done to their brand and bottom line. It is also clear that a private equity firm, freed of Nestlé’s reputational responsibilities, will seek to cut expenses at the cost of the limited promises its predecessor made regarding environmental sustainability and community benefit. We call on elected leaders, regulators, advocacy groups and the media in Canada and the US to ‘follow the money’ and expose this deal to the highest levels of public scrutiny.”