The Swiss group will form a €4.9bn joint venture with the US private-equity firm, retaining half of its global waters portfolio.
Nestlé will receive €3bn in cash proceeds after selling a 50% stake in its waters business to Platinum Equity. The deal values the new Peranel joint venture at €4.9bn, combining brands like San Pellegrino, Perrier, and Nestlé Pure Life under a dedicated entity.
The transaction follows months of speculation about a partial sale, with Nestlé previously exploring options to divest parts of the division. Analysts had expected proceeds of up to €3.5bn, aligning with today’s announced figure.
Nestlé’s CEO stated the partnership will enhance agility and long-term growth, with Peranel positioned to invest in premiumization and innovation. The deal is set to close in the coming months, pending regulatory approvals.