World's Largest Food Giant Sells Half of Its Iconic Bottled Water Brand
Nestle, one of the major players in the global food market, has made a strategic decision to undergo a profound restructuring in its water operations. The company has transferred 50% of its shares in its massive water group to Platinum Equity, a private equity fund based in the United States.
Nestle has sold half of its water brand.
According to the official announcement, Nestle and Platinum Equity will merge their operations under one roof following this sale. The two giants announced they will establish a brand new company named 'Peranel', which will operate under a 50-50 partnership structure.
The newly to be established company, Peranel, will assume all operational responsibilities for iconic brands such as Perrier, S.Pellegrino, Acqua Panna, and Nestle Pure Life, which are well-known to millions of consumers worldwide.
The transfer is expected to be completed in the first half of 2027.
Philipp Navratil, CEO of Nestle, emphasized that the company will return to its main focus points in order to achieve its future growth and profitability targets.
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