Nestlé is apparently to sell its water business. Nestlé has hired Rothschild Bank to sell its water business, according to a media report.
Reuters wrote on Thursday afternoon, citing four people familiar with the matter, that the sale could take place this year. The water unit is valued at 5 billion euros or more.
New Nestlé CEO Laurent Freixe wants to focus the company more on its core brands such as Kit-Kat, Nescafé and Maggi, the report added. After the sale, Nestlé intends to retain a minority stake. The water business includes brands such as Perrier and San Pellegrino.
Initial discussions have been held with private equity firms including Platinum Equity, Blackstone and One Rock Capital Partners. According to Reuters sources, PAI Partners and CD&R are also said to be interested.
Discussions with potential buyers are ongoing. A formal process is not expected to begin until later this year. However, a deal is not yet guaranteed, the sources told Reuters.
The company declined to comment to AWP on the Reuters article. At the same time, a spokesperson stressed that Nestlé had already announced a review of its water business strategy, including partnerships, in November 2024.
