Nestlé launches water and premium beverages company – overview
- Nestlé and Platinum Equity will create Peranel in 2027
- Peranel combines over 30 beverage brands across 120 countries
- The standalone business focuses on water and premium beverages
- Nestlé expects €3bn cash proceeds from the €4.9bn transaction
- The move supports portfolio simplification and future growth ambitions
Nestlé has announced the launch of a brand new €4.9bn beverage company named Peranel.
Created in partnership with global investment firm Platinum Equity, the 50:50 venture will focus on water and premium beverages, with the goal of accelerating growth in the category.
Spanning more than 30 brands, sold across 120 countries, the newly-created Peranel will be home to major names including S.Pellegrino, Source Perrier, Acqua Panna, and Nestlé Pure Life, alongside premium and functional hydration beverages.
The move forms part of Nestlé’s wider strategy to simplify its portfolio and focus resources on higher-growth, higher-margin categories. It also marks the latest step in the company’s efforts to reshape its business around a smaller number of core growth platforms.
Standalone water and beverages business
As a standalone business, Peranel will focus exclusively on water and premium beverages, giving it the flexibility to invest in its brands and pursue new growth opportunities. The company will also benefit from a dedicated in-house R&D team to support continued product innovation.
Expected to close in the first half of 2027, the deal values Peranel at €4.9bn and will provide Nestlé with an estimated €3bn in cash, subject to the necessary regulatory and employee approvals.
The proceeds will provide Nestlé with additional financial flexibility as it continues its programme of portfolio reshaping and investment in priority business areas.
The strategy behind the deal
“By partnering with Platinum Equity, Peranel will be better positioned to execute its strategy with enhanced agility,” says CEO Philipp Navratil. “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, premiumisation, operational excellence and sustainability.”
Platinum Equity is a US-based firm with approximately $48bn in assets under management, as well as significant experience in corporate carve-outs, business transformations and standalone company creation.
“We are excited to partner with Nestlé and take this next step together,” says Platinum Equity co-president, Louis Samson. “Our joint venture creates a powerful partnership and a very strong team. We have great respect for Peranel’s brands, the people that bring them to life and the customers and communities they serve. We will leverage our extensive experience in establishing and supporting stand-alone companies to create long-term value.”
The news comes as Nestlé continues to navigate heavy scrutiny surrounding parts of its water business, including alleged dumping of plastic waste and the use of the term ‘natural mineral water’.
Leadership and next steps
Headquartered in Paris, Peranel will be led by Muriel Lienau, the current CEO of Nestlé Waters.
“This announcement marks an important milestone for our teams and an exciting new chapter in the evolution of our business,” says Muriel Lienau. “I am grateful both for the continued support of Nestlé and pleased to be joined by Platinum Equity in our ambitious journey.”
The creation of Peranel marks a significant milestone in Nestlé’s ongoing portfolio transformation, giving the Swiss food and beverage giant a dedicated vehicle for its waters and premium beverages business, while freeing up capital for future investment.
As the company refocuses on higher-growth categories, the spotlight will be on whether Peranel can fulfil its potential as a standalone player.
