Nestle spins water brands into Peranel JV for €3 billion
Business
Nestle is carving out its global water brands, including Perrier, S.Pellegrino, and Pure Life, into a 50:50 joint venture, called Peranel, with US private equity firm Platinum Equity.
The deal brings Nestle about €3 billion in cash and shifts some well-known bottled water labels to joint management.
Nestle JV to close H1 2027
The joint venture, expected to wrap up in the first half of 2027, is part of Nestle's plan to focus more on fast-growing areas like coffee and pet care.
Facing regulatory pressure over water practices in France and wanting to boost profits, Nestle says this change will help it grow where it matters most while letting Peranel run the water brands independently.