Homburger advises Nestlé on its partnership with Platinum Equity to create Peranel, a 50:50 joint venture for Nestlé’s waters and premium beverages business

On July 23, 2026, Nestlé (SIX: NESN) and Platinum Equity announced a plan to create Peranel, a 50:50 joint venture for Nestlé’s waters and premium beverages business, designed to establish a dedicated player with strengthened focus to drive growth in a dynamic category.

Spanning more than 30 brands with products sold in 120 countries, Peranel includes iconic natural mineral water brands such as S.Pellegrino, Source Perrier and Acqua Panna as well as premium and functional hydration beverages, the global Nestlé Pure Life brand and other leading local water brands.

The transaction is subject to employee consultation processes and applicable regulatory approvals and is expected to close in H1 2027. It assigns an enterprise value to Peranel of EUR 4.9 bn (CHF 4.5 bn).

Homburger acted as legal counsel to Nestlé on the carve-out in Switzerland and all Swiss law matters in connection with the transaction.

The Homburger team was led by Frank Gerhard and included Magdalena Stock and Constantin Khovrin (all Corporate / M&A), Dieter Grünblatt, Peter Müller, Arbnor Sheholli (all Tax), Richard Stäuber, Anna-Katharina Leitz (both Competition) and Jeremy Reichlin (Employment and Executive Compensation).