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Nestlé and Platinum Equity have agreed to establish Peranel, a new 50:50 joint venture that will bring together Nestlé’s global waters and premium beverages business to accelerate innovation, brand investment and sustainable long-term growth.
Joint Venture Creates Dedicated Water and Premium Beverages Business
Nestlé and Platinum Equity have announced plans to establish Peranel, a new 50:50 joint venture that will combine Nestlé’s waters and premium beverages business into a standalone company focused exclusively on the category.
The proposed business will manage a portfolio of more than 30 brands sold across 120 countries, including natural mineral water brands S.Pellegrino, Source Perrier and Acqua Panna, alongside premium and functional hydration beverages, the global Nestlé Pure Life brand and a range of regional water brands.
The transaction remains subject to employee consultation and regulatory approvals and is expected to complete during the first half of 2027.
Focused Business to Drive Innovation and Growth
Nestlé said the creation of Peranel will provide the business with greater flexibility to invest in its portfolio while pursuing growth opportunities in the global water and premium beverages market.
The company will include an in-house research and development (R&D) team that has supported approximately 120 product launches since 2022 and developed an established product innovation pipeline.
Philipp Navratil, CEO of Nestlé, said: “By partnering with Platinum Equity, Peranel will be better positioned to execute its strategy with enhanced agility. Through additional focus, it will be well equipped to drive its long-term growth ambitions by strengthening this unique portfolio of international and local brands, with continued investments in innovation, premiumization, operational excellence and sustainability.”
Philipp Navratil, CEO of Nestlé
Investment Partnership Supports Long-Term Development
The transaction assigns an enterprise value of €4.9 billion to Peranel and is expected to generate approximately €3.0 billion in cash proceeds for Nestlé when the deal completes.
Nestlé said Platinum Equity brings experience in corporate divestitures, business transformation and supporting standalone companies, complementing Nestlé’s expertise in managing joint ventures.
Louis Samson, Co-President of Platinum Equity, said: “We are excited to partner with Nestlé and take this next step together. We bring unique energy and focus as well as business and operational expertise to the table. Combined with Nestlé’s and Peranel’s world-class product development, execution and marketing capabilities, our joint venture creates a powerful partnership and a very strong team.
We have great respect for Peranel’s brands, the people that bring them to life and the customers and communities they serve. We will leverage our extensive experience in establishing and supporting stand-alone companies to create long-term value.”
We look forward to working alongside Nestlé, Muriel and her team to expand Peranel’s reach and support its continued organic growth. We’ll also bring our M&A capabilities to help build upon and sharpen Peranel’s existing portfolio.”
Igor Chacartegui, Managing Director of Platinum Equity
A ‘New Chapter in the Evolution of our Business’
Peranel will be headquartered in Paris and led by Muriel Lienau, the current Chief Executive Officer of Nestlé’s waters and premium beverages business.
Muriel Lienau said: “This announcement marks an important milestone for our teams and an exciting new chapter in the evolution of our business. I am grateful both for the continued support of Nestlé and pleased to be joined by Platinum Equity in our ambitious journey.”
Nestlé said the new structure will enable Peranel to operate as an independent business dedicated to water and premium beverages, with continued investment in innovation, premiumisation, operational excellence and sustainability across its international portfolio.
This article was produced by the editorial team at Food & Beverage Outlook and published as part of the Outlook Publishing global network of B2B industry magazines.
Outlook Publishing delivers industry insights, company stories, and sector coverage across food production, manufacturing, supply chains, construction, healthcare, mining, and sustainability.
Food & Beverage Outlook provides ongoing coverage of organisations and developments shaping the global food and beverage sector.
