Nestlé and Platinum Equity Create EUR 4.9 Billion Peranel Venture

Nestlé S.A. and Platinum Equity have announced the formation of Peranel, a 50:50 joint venture that will house Nestlé's waters and premium beverages business. Headquartered in Paris, the new entity will manage a portfolio of over 30 brands across 120 countries, including S.Pellegrino, Source Perrier, Acqua Panna, and Nestlé Pure Life.

The transaction assigns Peranel an enterprise value of EUR 4.9 billion and is expected to provide Nestlé with approximately EUR 3.0 billion in cash proceeds upon closing. The deal is scheduled for completion in the first half of 2027, pending regulatory approvals and employee consultations.

This strategic shift follows Nestlé's 2024 decision to divest its water division, which has faced criticism over environmental sustainability and regulatory scrutiny in France regarding unauthorized water treatment practices. Muriel Lienau, the current business CEO, will lead Peranel. The partnership aims to leverage Platinum Equity's operational expertise and M&A capabilities to drive organic growth and innovation across the global beverage portfolio.