Overview
- The companies announced on Thursday that they will form Peranel as a 50/50 joint venture that consolidates more than 30 water and premium beverage brands, including S.Pellegrino, Source Perrier, Acqua Panna and Nestlé Pure Life.
- Nestlé said the deal values Peranel at $5.6 billion (€4.9 billion) and that it anticipates receiving roughly €3.0 billion in cash proceeds when the transaction closes.
- Peranel will be headquartered in Paris and led by Muriel Lienau, the current head of Nestlé's waters business, with Bank of America and Latham & Watkins advising Platinum Equity.
- The agreement is subject to employee consultations and regulatory approvals and the partners expect to complete the transaction by the first half of 2027.
- Nestlé framed the move as a way to sharpen focus on higher-growth assets and give the water business freedom to invest and pursue deals, a shift that follows prior regulatory and environmental scrutiny of its waters operations in France and elsewhere.