Nestlé and Platinum Equity have agreed to create Peranel, a standalone water and premium beverages company valued at approximately $5.6 billion.
The partnership will combine Nestlé’s beverage brands, product development capabilities and marketing experience with Platinum Equity’s operational and investment expertise.
Peranel will operate independently and focus exclusively on water and premium beverages. The structure is intended to give the business greater flexibility to invest in its brands, pursue growth opportunities and respond more quickly to changing consumer preferences.
The company’s portfolio serves beverage categories supported by trends involving hydration, health, wellness and premium products.
Peranel will retain an internal research and development team that has contributed to approximately 120 product launches since 2022. The business also has a pipeline of products under development.
Platinum Equity plans to support Peranel through operational improvements, portfolio development and potential acquisitions. The investment firm said it will use its merger, acquisition and operating capabilities to expand the business and sharpen its brand portfolio.
Nestlé expects the partnership to provide Peranel with greater strategic focus and agility. Planned areas of investment include innovation, premiumization, operational performance and sustainability.
Muriel Lienau, a Nestlé executive with more than 30 years at the company, will lead Peranel. She will work with Platinum Equity and Nestlé as the business transitions into a standalone organization.
Platinum Equity has experience establishing independent companies through corporate divestitures and joint ventures. Its previous corporate partnerships have involved companies including Ball Corporation, Caterpillar, Danone, Emerson Electric, Kohler and Telstra.
The transaction also represents an expansion of Platinum Equity’s European investment platform. The firm’s current European portfolio includes approximately a dozen businesses operating across the United Kingdom, Germany, Italy, France, the Netherlands and Spain.
Platinum Equity manages approximately $48 billion in assets and has completed more than 550 acquisitions since its founding in 1995.
Bank of America is serving as Platinum Equity’s financial advisor, while Latham & Watkins is providing legal counsel.
The supplied announcement did not disclose the companies’ respective ownership percentages, financing structure or anticipated closing date.
KEY QUOTES:
“We are honored to have earned Nestlé’s confidence and are excited to be their partner.”
“We bring unique energy and business expertise to the table, and when combined with their world-class product development, execution and marketing capabilities, we believe our joint venture creates a powerful partnership and a very strong team.”
“Peranel will be a cornerstone investment for our firm. It’s another large, complex transaction that highlights the strength of the platform we’ve built in Europe.”
Louis Samson, Co-President of Platinum Equity
“By partnering with Platinum Equity, Peranel will be better positioned to execute its strategy with enhanced agility.”
“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, premiumization, operational excellence and sustainability.”
Philipp Navratil, CEO of Nestlé
“This announcement marks an important milestone for our teams and an exciting new chapter in the evolution of our business.”
“I am grateful both for the continued support of Nestlé and pleased to be joined by Platinum Equity in our ambitious journey.”
Muriel Lienau, Leader of Peranel
“We are investing in some of the fastest-growing parts of the beverage market, supported by long-term trends around health, wellness, hydration and premium products.”
“We look forward to working alongside Muriel and her team to expand their reach and support their continued organic growth. We’ll also bring our M&A capabilities to help build upon and sharpen Peranel’s existing portfolio.”
Igor Chacartegui, Managing Director of Platinum Equity
