VEVEY (dpa-AFX) - Nestlé SA (NSTR.L), the world's largest food and beverage company, said Thursday it has agreed with global investment firm Platinum Equity to create Peranel, a 50:50 joint venture for its water and premium beverages business, establishing a standalone company focused on driving long-term growth and innovation.
The deal values Peranel at €4.9 billion and is expected to generate cash proceeds of approximately €3.0 billion for Nestlé at closing.
The deal remains subject to employee consultation processes and regulatory approvals and is expected to close in the first half of 2027.
Headquartered in Paris, Peranel will be led by Muriel Lienau, the current chief executive officer of Nestlé's water and premium beverages business.
Peranel will comprise more than 30 brands sold in 120 countries, including natural mineral water brands S.Pellegrino, Source Perrier, and Acqua Panna, as well as premium and functional hydration beverages, the global Nestlé Pure Life brand, and several leading local water brands.
The business also includes an in-house research and development team that has contributed to about 120 product launches since 2022 and has developed a strong innovation pipeline.
'By partnering with Platinum Equity, Peranel will be better positioned to execute its strategy with enhanced agility,' said Philipp Navratil, CEO, Nestlé. '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.'
Nestlé shares closed up 2.24% at CHF 86.17 on the Swiss Exchange.
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