Nestlé Sells Half of Waters Business to Platinum Equity for $3.4 Billion
Nestlé has entered into a $3.4 billion deal with private equity firm Platinum Equity, selling half its waters business and forming a new joint venture called Peranel. The partnership includes over 30 premium water brands such as S.Pellegrino, Source Perrier, Essentia, and Nestlé Pure Life. This move aligns with CEO Philipp Navratil's strategy to streamline the company’s portfolio by divesting underperforming assets. The waters business accounts for about 4% of Nestlé's revenue but has struggled in recent years. The new entity will operate independently from Paris, led by Muriel Lienau, and aims to leverage increased agility to pursue growth opportunities through innovation and sustainability initiatives. This deal is expected to close in the first half of 2027. Nestlé continues its broader restructuring efforts that include selling Blue Bottle Coffee and parts of its ice cream business earlier this year.
Topics: Nestlé Peranel private equity waters business