Nestlé: announces joint venture with Platinum Equity for its water and beverages business
(Il Sole 24 Ore Radiocor) - Swiss giant Nestlé has announced the creation of a joint venture with investment firm Platinum Equity for its bottled water and drinks business. The deal is based on an enterprise value of €4.9 billion and will generate proceeds of around €3 billion for Nestlé. The joint venture, named Peranel, will be based in Paris and led by Muriel Lienau, the current head of Nestlé Waters; it will be jointly owned by Nestlé and Platinum Equity. The new entity will comprise over 30 brands sold in 120 countries, including iconic names such as S.Pellegrino, Source Perrier and Acqua Panna. The transaction is subject to consultations with employee representative bodies and approvals from the relevant authorities; Nestlé has also stated that it expects the deal to be finalised in the first half of 2027. “Thanks to the partnership with Platinum Equity, Peranel will be able to fully implement its strategy with greater agility,” said Philipp Navratil, Nestlé’s CEO.
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