Major partner exits race for Nestle's Perrier water brand

A major shakeup is hitting the bidding war for Nestle’s iconic water portfolio, which includes the world-famous sparkling water brand Perrier. Nestle's long-time private equity partner, PAI Partners, has officially dropped out of the running to acquire a stake in the business.

The consumer goods giant is currently looking to sell a 50% stake in its water division, a segment that has consistently attracted high-profile investor interest for decades. While PAI Partners is no longer in the mix—and rival firm KKR & Co. reportedly exited negotiations in recent weeks—the race is far from over, News.Az reports, citing Reuters.

Private equity heavyweight Clayton Dubilier & Rice, alongside billionaire Tom Gores's Platinum Equity, are still actively competing for the multi-billion dollar stake.

Nestle has declined to comment on the ongoing negotiations, and the involved private equity firms have not yet responded to requests for comment.

The high level of interest comes as no surprise to industry insiders. In a 2024 interview, Nestle’s former head of group strategy and business development, Sanjay Bahadur, noted that the company’s water business has long been a highly coveted target for both strategic corporate buyers and private equity firms looking for a premium asset.

News.Az 

By Aysel Mammadzada