Nestle Waters has bought the former Lightwood Reservoir land in Buxton from Severn Trent.
The company, which owns the Buxton water brand, issued a statement confirming the purchase this afternoon (Friday).
It said: “Nestlé Waters can confirm we have signed an agreement for the purchase of the former Lightwood Reservoir land in Buxton from Severn Trent PLC. The investment is part of our long term strategy to protect water quality and promote environmental stewardship.
"The reservoir itself was decommissioned a number of years ago and has since been home to a spring water source, the water from which is bottled at the nearby Nestlé Waters factory.
"In the short term we will be doing minor works to ensure that the site is safe. Our focus then during the next year will be to start developing a long term plan to protect and increase the healthy environment at the site; improving ecosystem services, water stewardship and biodiversity. We plan to consult with local stakeholders during this process.”