NF North America, a subsidiary of Chinese bottled water and beverage company 
Nongfu Spring (农夫山泉), purchased a 337,391-square-foot single-story commercial building on 23 acres at 80 Northwest Blvd. in Nashua’s Westwood Park for $67 million — a price 4 times more than its assessed value — in January. Corporate documentation cites water bottling and beverage manufacturing among the intended uses.
Water to the site — for whatever beverage or water bottling production might occur there — will be supplied by the Pennichuck Water Works, owned by the Pennichuck Corp and supplier of all the water to the city of Nashua.
The connection between NF North America and Nongfu Spring lies in its leadership. N.H. Secretary of State records show that the president and director of NF North America is Wu Limin. On Nongfu Spring’s website, Wu Limin is shown as its executive director and CFO. There is also the subtle NF/Nongfu connection in the two company names. The state records of incorporation show these business entities at 80 Northwest Blvd. in Nashua: NF North America as a foreign profit corporation created on Mar 13 and NF North America as a foreign limited liability company (LLC) formed on Jan 21.
Its stated principal purpose is: “Production, sales, warehousing, distribution, import and export of food, bottled water, beverages, advertising and marketing business; real estate; holding. “The other business entity at 80 Northwest Blvd. is Steamfill Packer, a foreign LLC created on Feb 19 that lists its purpose as “beverage manufacturing and sales. “Wu Limin is shown as both president and director, along with Jing Gao as CFO for NF North America. No officers are listed for Steamfill Packer. According to the Wu Limin bio posted on the Nongfu Spring website, she joined the company in Jan 2022 as the general manager of its finance center. She has been its director and CFO since May 2023. An inquiry sent to the email address provided in the Secretary of State documentation was not answered. Nongfu Spring’s activity on LinkedIn offers evidence of its plans to expand into the US — and potentially the Granite State. A job listing the company posted on LinkedIn two months ago for “Head of Scientific and Regulatory Affairs – US Branch” listed “New York or New Hampshire” as the location of the job. Three months ago, Nongfu Spring posted a LinkedIn ad for “Head of Marketing, US Market”. “Our company is a leading beverage giant in China, known for its innovative and diverse product portfolio. With a strong presence in the domestic market, we are now expanding aggressively into the United States,” the post said.
NF North America’s purchase was recorded on Jan 31 with the Hillsborough County Register of Deeds. The seller of the Nashua property was Stag Industrial Holdings LLC, a real estate investment trust focused on the acquisition, ownership and operation of industrial properties. The property has been unused for 11 years.
A Feb 3 press release from Stag announced the seller but not the buyer.
“STAG Industrial, Inc. completed the sale of a building in Nashua, N.H. for gross proceeds of $67.0 million. Representing a cash cap rate of 4.9 percent, the sale to an undisclosed buyer ended an 11-year hold on the property,” it said. The city of Nashua assesses the value of the property at $15.6 million. Questions about the propriety of the ownership were initially raised by a Washington Times columnist.
“Nongfu Spring’s quiet acquisition of the commercial property in New Hampshire has been troublesome as it appears to involve buying water from the locally owned utility company and bottling the water and tea for consumption. It is difficult to believe that this New Hampshire facility is the only one planned in America by the largest water company in China,” columnist Rick Berman wrote on April 15.
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newsnationnow.com/world/china/na
keenesentinel.com/business/chine
Nongfu Spring (农夫山泉), purchased a 337,391-square-foot single-story commercial building on 23 acres at 80 Northwest Blvd. in Nashua’s Westwood Park for $67 million — a price 4 times more than its assessed value — in January. Corporate documentation cites water bottling and beverage manufacturing among the intended uses.
Water to the site — for whatever beverage or water bottling production might occur there — will be supplied by the Pennichuck Water Works, owned by the Pennichuck Corp and supplier of all the water to the city of Nashua.
The connection between NF North America and Nongfu Spring lies in its leadership. N.H. Secretary of State records show that the president and director of NF North America is Wu Limin. On Nongfu Spring’s website, Wu Limin is shown as its executive director and CFO. There is also the subtle NF/Nongfu connection in the two company names. The state records of incorporation show these business entities at 80 Northwest Blvd. in Nashua: NF North America as a foreign profit corporation created on Mar 13 and NF North America as a foreign limited liability company (LLC) formed on Jan 21.
Its stated principal purpose is: “Production, sales, warehousing, distribution, import and export of food, bottled water, beverages, advertising and marketing business; real estate; holding. “The other business entity at 80 Northwest Blvd. is Steamfill Packer, a foreign LLC created on Feb 19 that lists its purpose as “beverage manufacturing and sales. “Wu Limin is shown as both president and director, along with Jing Gao as CFO for NF North America. No officers are listed for Steamfill Packer. According to the Wu Limin bio posted on the Nongfu Spring website, she joined the company in Jan 2022 as the general manager of its finance center. She has been its director and CFO since May 2023. An inquiry sent to the email address provided in the Secretary of State documentation was not answered. Nongfu Spring’s activity on LinkedIn offers evidence of its plans to expand into the US — and potentially the Granite State. A job listing the company posted on LinkedIn two months ago for “Head of Scientific and Regulatory Affairs – US Branch” listed “New York or New Hampshire” as the location of the job. Three months ago, Nongfu Spring posted a LinkedIn ad for “Head of Marketing, US Market”. “Our company is a leading beverage giant in China, known for its innovative and diverse product portfolio. With a strong presence in the domestic market, we are now expanding aggressively into the United States,” the post said.
NF North America’s purchase was recorded on Jan 31 with the Hillsborough County Register of Deeds. The seller of the Nashua property was Stag Industrial Holdings LLC, a real estate investment trust focused on the acquisition, ownership and operation of industrial properties. The property has been unused for 11 years.
A Feb 3 press release from Stag announced the seller but not the buyer.
“STAG Industrial, Inc. completed the sale of a building in Nashua, N.H. for gross proceeds of $67.0 million. Representing a cash cap rate of 4.9 percent, the sale to an undisclosed buyer ended an 11-year hold on the property,” it said. The city of Nashua assesses the value of the property at $15.6 million. Questions about the propriety of the ownership were initially raised by a Washington Times columnist.
“Nongfu Spring’s quiet acquisition of the commercial property in New Hampshire has been troublesome as it appears to involve buying water from the locally owned utility company and bottling the water and tea for consumption. It is difficult to believe that this New Hampshire facility is the only one planned in America by the largest water company in China,” columnist Rick Berman wrote on April 15.
newsweek.com/new-hampshire-
newsnationnow.com/world/china/na
keenesentinel.com/business/chine