Mexican brewer Modelo to form alliance on bottled water with Nestle

“Nestle SA (NSRGY), the world’s largest food and beverage company, Wednesday said it signed a letter of intent with Mexico’s Grupo Modelo SA (GMODELO.MX) to establish a strategic alliance focusing on bottled water for the Mexican market.

Nestle, based in Vevey, Switzerland, said it plans to further develop its Nestle Water unit’s existing business in Mexico, which includes brands such as Santa Maria, Perrier and Nestle Pureya Vital. Nestle didn’t disclose financial terms of the deal.”

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