Nestlé said the deal will see it sell a 50% stake in its waters and beverages business to Platinum Equity as part of efforts to slim down and revive profits.
Nestlé said it agreed to sell a 50% stake in its Waters and Beverages unit to Platinum Equity through the creation of Peranel, a 50/50 joint venture valued at 4.9 billion euros ($5.59 billion) including cash and debt. The transaction gives fresh strategic context to a deal previously framed around building a standalone global water and premium beverages company, as Nestlé seeks to slim down and revive profits. Peranel will house more than 30 brands sold in 120 countries, including S.Pellegrino, Source Perrier, Acqua Panna, the global Nestlé Pure Life brand and other local water brands. Headquartered in Paris, the business will be led by Muriel Lienau and is designed to operate independently with scope to invest in brands and pursue both organic and inorganic growth. The transaction remains subject to employee consultation processes and regulatory approvals, with closing expected by the first half of 2027.