A small but fast growing Ontario community looking for a safe drinking water supply has been outbid in its attempt to buy a well by multinational giant Nestle, which acquired the site to ensure “future business growth.”

Nestle, which can already take up to 3.6 million litres of water a day for bottling at its site in nearby Aberfoyle, Ont., bought the well from Middlebrook Water Company last month after having made a conditional offer in 2015.

A spokesman for Nestle said the company had “no idea” the other bidder for the five-hectare site was the Township of Centre Wellington, but it waived all conditions and matched the competing offer so it could complete the purchase.

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