Nestlé to sell half of waters business in $3.4B deal
Nestlé has agreed to sell half of its waters business to private equity firm Platinum Equity in a $3.4 billion deal, creating a new 50:50 joint venture called Peranel. The new company will be headquartered in Paris and include over 30 brands such as S.Pellegrino, Perrier, Essentia, and Nestlé Pure Life. The transaction, expected to close in the first half of 2027, gives Peranel an enterprise value of about $5.6 billion. The move is part of Nestlé CEO Philipp Navratil's strategy to shed underperforming assets and focus on growth areas like frozen foods. Nestlé first announced plans to separate its waters business in 2024 as part of a cost-cutting initiative. The waters and premium beverage segment had been struggling and accounted for only about 4% of Nestlé's overall business. Nestlé reported a 2.5% decrease in first-half sales to approximately $52.6 billion.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection