Nestlé and Platinum Equity Form $5.6 Billion Water Venture Peranel

The new venture includes iconic labels such as S.Pellegrino, Source Perrier, and Acqua Panna, alongside Nestlé Pure Life and various local water brands. Muriel Lienau, a veteran of Nestlé with over three decades of experience, will serve as CEO. The transition aims to provide the business with the agility to pursue both organic growth and strategic acquisitions, supported by Platinum Equity's operational expertise in corporate carve-outs.

Subject to regulatory approvals and employee consultations, the transaction is expected to finalize by the first half of 2027. Platinum Equity, which manages approximately $48 billion in assets, views this partnership as a cornerstone of its European strategy. Peranel will retain its existing in-house research and development team, which has launched roughly 120 products since 2022. The deal marks a significant shift for Nestlé, allowing the brand portfolio to focus exclusively on the evolving hydration and premium beverage market.