Nestlé and Platinum Equity plan to create Peranel, a 50:50 joint venture covering Nestlé’s water and premium beverages business, with the transaction expected to close in the first half of 2027.
The Paris-headquartered company will manage more than 30 brands with products sold across 120 countries. Its portfolio will include S.Pellegrino, Source Perrier, Acqua Panna, Nestlé Pure Life and several local water brands.
Peranel will also cover premium and functional hydration beverages. Nestlé said the independent structure would give the business greater flexibility to invest in its brands, develop new products and pursue growth opportunities.
The proposed transaction values Peranel at €4.9 billion, equivalent to CHF 4.5 billion. Nestlé expects to receive approximately €3 billion, or CHF 2.8 billion, in cash when the deal closes.
The business has its own research and development team, which has contributed to around 120 product launches since 2022. It also has a pipeline of new products under development.
Platinum Equity is a global investment firm with approximately $48 billion in assets under management. Its involvement could support the creation of Peranel as a standalone business and provide additional acquisition and operational expertise.
For supermarkets and beverage buyers, the creation of Peranel could bring increased investment in premium water, functional hydration and product innovation. The company’s international portfolio also gives it a significant position across the global bottled water market.
Muriel Lienau, the current chief executive of Nestlé’s water and premium beverages business, will lead Peranel.
The transaction remains subject to employee consultation processes and regulatory approval. Nestlé and Platinum Equity expect to complete the deal during the first half of 2027.
