Key facts
- Nestle is nearing a deal to sell a 50% stake in its European water business to Platinum Equity.
- The joint venture, named Peranel, will include premium brands like Perrier, S.Pellegrino, and Acqua Panna.
- The transaction values the business at €4.9 billion, with Nestle expecting to receive approximately €3 billion in cash proceeds.
- Nestle raised its full-year organic sales growth forecast to between 3% and 4%.
Nestle is nearing a deal to sell a 50% stake in its European water business to U.S. investment firm Platinum Equity, creating a 50-50 joint venture named Peranel. The transaction values the new company at €4.9 billion, with Nestle expecting to receive approximately €3 billion in cash proceeds. The business includes premium brands such as Perrier, S.Pellegrino, and Acqua Panna, along with Nestle Pure Life and local water businesses. This move is part of Nestle's strategy to focus on core brands and improve growth and profitability, as the water business has faced legal and environmental scrutiny. Following the announcement, Nestle raised its full-year organic sales growth forecast to between 3% and 4%.