Nestlé and Platinum Equity have announced plans to establish Peranel, a new 50:50 joint venture that will bring together Nestlé’s waters and premium beverages business under a dedicated company focused on accelerating growth in the rapidly evolving global hydration market.
The proposed venture will bring together more than 30 brands sold across 120 countries. Its portfolio will include internationally recognised natural mineral water brands such as S.Pellegrino, Source Perrier and Acqua Panna, alongside premium and functional hydration beverages, the global Nestlé Pure Life brand and other leading local water brands.
As an independent company dedicated exclusively to water and premium beverages, Peranel is expected to operate with greater flexibility and focus in investing in its brands, developing innovative products and pursuing new growth opportunities.
The business will also retain an in-house Research and Development team with a strong record of innovation. Since 2022, the team has contributed to approximately 120 product launches and has developed a robust pipeline of new products and innovations.
The proposed transaction values Peranel at an enterprise value of EUR 4.9 billion (CHF 4.5 billion) and is expected to generate cash proceeds of approximately EUR 3.0 billion (CHF 2.8 billion) for Nestlé at closing.
The transaction remains subject to employee consultation processes and applicable regulatory approvals and is expected to be completed in the first half of 2027.
Commenting on the announcement, Philipp Navratil, CEO of Nestlé, said the partnership with Platinum Equity would position Peranel to pursue its strategy with greater agility and focus.
«“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,” he said.»
Platinum Equity, a global investment firm with approximately USD 48 billion in assets under management, will bring its experience in corporate divestitures, business transformation and supporting management teams in building successful independent companies.
Louis Samson, Co-President of Platinum Equity, said the partnership would combine the investment firm’s operational expertise with Nestlé’s strong product development, marketing and execution capabilities.
He described Peranel as a powerful combination of world-class brands, people and capabilities, adding that Platinum Equity would support the company in creating long-term value.
Igor Chacartegui, Managing Director of Platinum Equity, said Peranel represented an exceptional portfolio of iconic brands with strong consumer recognition around the world.
He added that Platinum Equity would work with Nestlé and Peranel’s management team to expand the company’s reach, support organic growth and utilise its mergers and acquisitions capabilities to further strengthen the portfolio.
Headquartered in Paris, Peranel will be led by an experienced management team under Muriel Lienau, the current CEO of Nestlé’s waters and premium beverages business.
Welcoming the announcement, Muriel Lienau described the proposed joint venture as an important milestone and a new chapter in the evolution of the business.
«“I am grateful both for the continued support of Nestlé and pleased to be joined by Platinum Equity in our ambitious journey,” she said.»
The proposed creation of Peranel is expected to provide the water and premium beverages business with a more dedicated operating structure, greater strategic focus and increased flexibility to invest in innovation, brand development and future growth opportunities.
