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Nestlé SA To Sell China Water Business To Tsingtao

August 28, 2020: 12:00 AM EST
The Swiss company said the sale to Tsingtao Brewery Group, which will include local brand “Dashan Yunnan Shan Quan” and factories in Kunming, Shanghai, and Tianjin, is part of a strategic cooperation agreement with the Chinese brewer. Tsingtao will produce and market the Nestlé “Pure Life” brand in China as part of a licensing agreement. Financial details of the sale were not disclosed.[Image Credit: © Nestlé Waters North America Inc.]
Sophie Yu and Brenda Goh, "Nestlé says will sell China water business to Tsingtao Brewery Group", Reuters, August 28, 2020, © Thomson Reuters
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