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07/2026

PERANEL EX NESTLE WATER acquired by PLATINUM EQUITY & NESTLE

FRANCE Food Processing / Beverages / Soft Drinks EV 3b - 100b EUR

Context

Nestlé and Platinum Equity have announced the creation of Peranel, a 50:50 joint venture combining Nestlé’s water and premium beverages activities. The transaction is intended to establish a standalone company exclusively focused on these categories, with an organization designed to provide greater focus on developing its portfolio and executing its strategy. Peranel will bring together more than 30 brands sold across 120 countries, including S.Pellegrino, Source Perrier, Acqua Panna and Nestlé Pure Life, alongside other local water brands and premium and functional beverages. The company will be headquartered in Paris and led by Muriel Lienau, who currently heads the business. The transaction combines Nestlé’s expertise in product development, execution and marketing with Platinum Equity’s capabilities in corporate carve-outs, operational transformation and M&A. The new structure is intended to give Peranel greater flexibility to invest in its brands and pursue both organic and inorganic growth opportunities. The company is expected to continue investing in innovation, premiumization, operational excellence and sustainability. Completion of the transaction remains subject to employee consultation processes and applicable regulatory approvals and is expected in the first half of 2027.

PERANEL EX NESTLE WATER, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the AgriFood sector (10.7x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Peranel is a company focused on water, hydration and premium beverages. Its portfolio comprises more than 30 brands sold across 120 countries, including international natural mineral water brands such as S.Pellegrino, Source Perrier and Acqua Panna, as well as Nestlé Pure Life and other local water brands. The business also includes premium and functional beverages, particularly those focused on hydration. Peranel therefore combines internationally recognized brands with brands established across a range of local markets. The company operates across categories supported by consumer trends around health, wellness, hydration and premium products. Peranel also has an in-house research and development team, which has contributed to approximately 120 product launches since 2022. A pipeline of new products is currently under development. The company is focused on a beverage portfolio spanning natural mineral water, hydration products and premium beverages, with an international commercial footprint and dedicated innovation capabilities. Its portfolio combines established brands with products addressing different consumer occasions, from natural mineral water to functional and premium beverages.

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Historical Financials (EUR)

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REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 2.5b - 5b EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PERANEL EX NESTLE WATER by PLATINUM EQUITY / NESTLE are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: peranel ex nestle water

Acquirer: platinum equity