VEVEY, Switzerland— Nestlé and Platinum Equity have agreed to create Peranel, a new 50:50 joint venture that will combine Nestlé’s waters and premium beverages business into a standalone company focused exclusively on growth in the global hydration category.
The Paris-based company will oversee a portfolio of more than 30 brands sold in 120 countries, including S.Pellegrino, Perrier, Acqua Panna, Nestlé Pure Life and a range of regional water and functional beverage brands. As an independent business, Peranel will have greater flexibility to invest in innovation, premiumization, sustainability and operational improvements.
The transaction values Peranel at approximately €4.9 billion (CHF 4.5 billion) and is expected to generate about €3 billion (CHF 2.8 billion) in cash proceeds for Nestlé at closing. The deal remains subject to employee consultations and regulatory approvals and is expected to close in the first half of 2027.
Nestlé CEO Philipp Navratil said the partnership with Platinum Equity will give Peranel greater agility and focus to pursue long-term growth opportunities. Platinum Equity executives Louis Samson and Igor Chacartegui highlighted the firm's experience in supporting corporate carve-outs and stand-alone businesses, as well as its ability to help strengthen and expand the new company's portfolio.
Peranel will be led by Muriel Lienau, the current head of Nestlé’s waters and premium beverages business. The company will maintain an in-house R&D team that has supported roughly 120 product launches since 2022 and continues to develop new offerings for the category.
