Fiji Water on Monday closed its operations in the South Pacific country that gives the popular bottled drink its name, saying it was being singled out by the military appointed government for a massive tax increase.

A company statement announcing the decision did not say whether the company was shutting down permanently in Fiji, where an acquifer deep underground has been the source of one of the world’s most popular bottled water brands.

The company, owned by California entrepreneurs Lynda and Stewart Resnick, said it was closing its facility in Fiji, canceling orders from suppliers and putting on hold several construction contracts in the country. Get the full story »