The European Commission approved Platinum Equity's acquisition of a stake in Nestlé's water business, now known as Peranel. The clearance is a key step toward forming a joint venture that will combine Nestlé's European water brands with Platinum Equity's operational expertise.
The deal is part of Nestlé's broader strategy to focus on its core high-growth categories and iconic local brands. The financial terms were not disclosed.
The venture aims to become a leading player in the water and premium beverages market, drawing on the brand recognition of Perrier, S.Pellegrino and Acqua Panna.