Nestle Sells Half of Waters Unit for $3.4 Billion
Nestle has agreed to sell a 50% stake in its Waters and Beverages business, which includes brands like Perrier and San Pellegrino, to private equity firm Platinum Equity in a $3.4 billion deal. The joint venture will be named 'Peranel' and is valued at €4.9 billion including cash and debt. The transaction marks another step in Nestle's broader restructuring strategy aimed at reducing costs and focusing on core businesses. The sale comes as part of CEO Philipp Navratil’s efforts to streamline the company after a period marked by underperformance, management changes, and financial setbacks. In its recent earnings report, Nestle revealed that net profit for the first half was below expectations due in part to restructuring costs. The deal is expected to close in early 2027. Nestle has also been divesting other non-core brands such as ice cream through joint ventures and vitamins businesses to focus on premium products like Solgar and Garden of Life.
Topics: Nestle Platinum Equity Private Equity Restructuring Waters Unit