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Nestle to Offload Half of Waters Business in Joint Venture With Platinum Equity

Provided by Dow Jones Jul 23, 2026, 10:44:00 AM

By Aimee Look

Nestle said it struck a deal to sell half of its waters business to private equity group Platinum Equity, as it seeks to slim down and revive profits.

The Swiss giant said it agreed with Platinum Equity to create a joint venture and sell a 50% stake in its Waters and Beverages unit. The new business, called Peranel, is valued at 4.9 billion euros ($5.59 billion) including cash and debt.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

July 23, 2026 01:44 ET (05:44 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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