One Rock Capital Partners LLC and C. Dean Metropoulos & Co. agreed to buy Stamford, Conn.-based bottled water business Nestlé Waters North America Inc. from Swiss food and beverage giant Nestlé SA for $4.3 billion.

The deal includes Nestlé's U.S. and Canada brands, including Poland Spring Brand 100% Natural Spring Water, Deer Park Brand 100% Natural Spring Water, Ozarka Brand 100% Natural Spring Water, Ice Mountain Brand 100% Natural Spring Water, Zephyrhills Brand 100% Natural Spring Water, Arrowhead Brand Mountain Spring Water, Pure Life, Splash and the beverage delivery service ReadyRefresh.

The transaction is part of Nestlé's review of strategic options to refine the focus of its international water portfolio, including a sale of its North American water business.

The deal, which excludes Nestlé's global premium brands such as Perrier, S.Pellegrino and Acqua Panna, is expected to close in the spring.

Dean Metropoulos, a food and beverage industry veteran and founder of his namesake investment firm, will become chairman and interim CEO of Nestlé Waters upon deal completion.