Nongfu Spring Acquires Property in New Hampshire: A Growing Concern
China’s largest beverage company, Nongfu Spring, has recently acquired a significant property in Nashua, New Hampshire. This site is located next to the Pennichuck water system, which is essential for the city’s drinking water supply. The company, owned by China’s richest man, Zhong Shanshan, now has access to local water resources, raising concerns among residents and officials.
The acquisition has sparked alarm among locals and politicians who believe that most people in Nashua are unaware of the sale. While Nongfu Spring has not yet outlined specific plans for extraction or bottling, its global strategy—centered on exporting bottled water—has drawn scrutiny from the community.
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Key Details About the Acquisition
Stag Industrial Holdings LLC, a real estate investment trust, sold the land to NF North America, a subsidiary of Nongfu Spring, on January 31. According to the Hillsborough County Register of Deeds, reviewed by the New Hampshire newspaper The Keene Sentinel, the property was bought at four times its assessed value—$67 million, despite being valued at $15 million by the city of Nashua.
The property includes a 337,391-square-foot single-story building on 23 acres at 80 Northwest Blvd. It has remained unused for 11 years. The location is near Nashua Airport, some defense centers, and a Federal Aviation Administration control center. Water for the site will be provided by Pennichuck Water Works, according to the city of Nashua.
Perspectives from Officials and Residents
Pennichuck CEO John Boisvert stated that the property falls within existing withdrawal permits. He explained that the water system has “a lot of excess capacity,” noting that it is permitted for over 30 million gallons a day, with average daily demands around 11 or 12 million gallons. In the summertime, this can increase to 20 million gallons.
However, there are still concerns about the sale. Republican State Senator Kevin Avard expressed disapproval of how quickly the project moved forward without addressing public concerns. He called for transparency regarding the sale price, the property’s value, and the company’s intentions with the water supply.
There are no federal or state laws in New Hampshire that block a Chinese company from owning property there. However, Republican Senator Regina Birdsell has advocated for restrictions on foreign land ownership, particularly for countries like China.
Public Reactions and Ongoing Discussions
Stag Industrial Holdings LLC released a press statement in February, highlighting the sale as a cash cap rate of 4.9 percent and an 11-year hold on the property. Meanwhile, Lily Tang Williams, a candidate running for Congress in New Hampshire, has raised concerns about China’s influence. She warned about what she calls a “soft power invasion” through business, education, and technology.
What Comes Next?
City leaders in Nashua have stated that the commercial property will undergo standard regulatory procedures and environmental oversight. Any application or plan by Nongfu Spring to extract water or use the property in a way that affects local resources is expected to go through public review and permitting processes.
Discussions about tightening restrictions on foreign land acquisitions near critical infrastructure continue at both the state and federal levels. The situation remains under close watch as the community seeks more information and clarity about the implications of this acquisition.
