Nestlé to Establish EUR4.9 Billion Water, Premium Beverages JV with Platinum Equity

01:27 AM EDT, 07/23/2026 (MT Newswires) -- Nestlé (NESN.SW) agreed to form a joint venture focused on water and premium beverages business with US-based private equity investor Platinum Equity. The equally owned joint venture, to be called Peranel, will result in an independent company with an enterprise value of 4.9 billion euros, according to a Thursday release. The packaged food and drinks giant said it expects implied cash proceeds at closing of 3 billion euros. The transaction, expected to close in the first half of 2027, is subject to employee consultation processes and regulatory approvals.