The March 31 purchase of Nestlé Waters North America by an investment partnership* and subsequent name change to BlueTriton Brands has raised numerous questions related to the ongoing 1041 permitting process.
Alix Dunn, head of Corporate Communications for BlueTriton Brands, recently responded in writing to some of those questions.
Regarding potential changes to local operations, she said she anticipates that the company’s Chaffee County operations “will continue business as usual. The existing management team remains in place, including the Colorado-based team managing the day-to-day operations of Arrowhead Brand water.”
When asked about sustainability issues and plastic waste, Dunn responded, “BlueTriton Brands is aligned with Chaffee County’s desire to be a sustainable and healthy-minded community. … We are proud of the water products we provide to consumers – a much healthier alternative to sugary or caffeinated beverages.”
Dunn said BlueTriton is committed to “water stewardship, responsible packaging and minimizing the environmental impact associated with our operations” and is “fully aware of the sensitive balance on which our environment depends to support and sustain life and natural systems. … Our ongoing work includes a wide variety of recycling and sustainable packaging initiatives as well as tactics to reduce our carbon footprint.”
Dunn also addressed questions raised in recent 1041 permit meetings about BlueTriton’s finances and financial plans for the company:
“The carve-out of BlueTriton Brands from Nestlé was financed using both third-party debt and a significant equity investment, as is customary for these types of transactions. The debt does not include any requirement to sell BTB or its assets now or at any time in the future. As part of the recapitalization of our company, we have ample liquidity, including cash reserves and lines of credit, to continue to meet the commitments that we have made to our stakeholders in Chaffee County.
“Our goal is to invest in the business in ways that enable it to grow and by offering high-quality innovative products that meet consumer needs. We believe that we can build on the rich heritage of our historic, iconic, and beloved brands and connect with consumers in new and more relevant ways. At the same time, we are reaffirming our commitment to being a steadfast steward of the environment at the forefront of sustainability and creating value in the local communities in which we operate.”
Dunn also said that BlueTriton “will continue pursuing the 1041 permit extension in accordance with Chaffee County rules and regulations as we have been doing since September 2019.”
Blue Triton is currently seeking an extension of a Chaffee County 1041 permit that was originally granted to Nestlé in 2009. That permit allows the company to pump groundwater near Ruby Mountain and transport it to Denver for bottling as Arrowhead spring water.
The deadline to submit written comments to the County about the 1041 permit is 5 p.m. today (Thursday, May 27).
*The investment partnership is between One Rock Capital Partners and Metropoulos & Co.