Nestl\u00e9 has announced a major restructuring of its global waters division through a new joint venture with private equity firm Platinum Equity.<\/p>\n
The company\u2019s waters and premium beverages business will be rolled into a new standalone company, Peranel, through a 50:50 joint venture with private equity firm Platinum Equity.<\/p>\n
Peranel will manage a portfolio of premium brands, including Perrier, S Pellegrino, Acqua Panna, Maison Perrier, Buxton and La Vie, across more than 120 countries.\u00a0<\/p>\n
Under the agreement, Nestl\u00e9 will receive approximately \u20ac3 billion (US$3.4 billion) in cash while retaining a 50 per cent stake in the new business. The company said the partnership will provide greater strategic focus and operational flexibility for the waters division, while allowing Nestle to concentrate on its core growth categories.<\/p>\n
\u201cBy partnering with Platinum Equity, Peranel will be better positioned to execute its strategy with enhanced agility,\u201d said Nestl\u00e9 CEO Philipp Navratil.<\/p>\n
\u201cThrough 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.\u201d<\/p>\n
Peranel will be led by Muriel Lienau, the current CEO of Nestl\u00e9 waters and premium beverages, alongside an experienced management team. The transaction, assigning an enterprise value of $5.6 billion to Peranel, is expected to close in the first half of next year.<\/p>\n
Steady first-half growth<\/p>\n
The announcement coincided with the multinational FMCG company\u2019s first-half results announcement. Nestl\u00e9 posted sales of CHF43.1 billion (approximately US$ 52.76 billion) in the six months ended June 30, with organic growth of 3.7 per cent, supported by 1.8 per cent real internal growth and 1.9 per cent pricing. Coffee and confectionery continued to perform strongly, while pet care maintained positive momentum.<\/p>\n
\u201cEmerging markets growth accelerated, and we delivered solid performance in developed markets,\u201d said Navratil.<\/p>\n
\u201cWe are increasing and prioritising our investment behind our leading brands and growth platforms, sharpening our portfolio focus and driving further efficiencies to reinvest. While the external environment remains uncertain, we are taking actions to accelerate consistent growth.\u201d<\/p>\n
The company reaffirmed its full-year guidance, expecting organic sales growth of 3 per cent to 4 per cent.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Nestl\u00e9 has announced a major restructuring of its global waters division through a new joint venture with private…\n","protected":false},"author":2,"featured_media":107731,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[126],"tags":[199,52385,23570],"class_list":["post-107730","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nestle","tag-nestle","tag-peranel","tag-platinum-equity"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116975543686419761","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/107730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=107730"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/107730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/107731"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=107730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=107730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=107730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}