Nestlé NESN is trying to offload its premium bottled water biz—including Perrier and S.Pellegrino—for a thirst-quenching 5 billion euros ($5.6 billion)
Nestlé (NESN) is attempting to sell its premium bottled water units, which include Perrier and S.Pellegrino, for 5 billion euros ($5.6 billion), and has enlisted Rothschild to assist in the endeavor, sources familiar with the matter told Reuters on Thursday.
People familiar with the matter told the publication that the Swiss food giant, best known for Maggi and Nescafe, is hoping to sell a majority stake in the bottled water unit but wishes to retain a minority interest.
The move comes after French authorities told Nestlé to remove micro-pollutants from two Perrier plants in the country.
One Rock Partners is expected to put in an offer for the unit, which also includes Poland Springs, Brut sparkling water, and Best Bottled Water. The firm previously helped extract Poland Springs from Nestlé in 2021 and now owns Primo Brands (PRMB).
The move comes as water scarcity is intensifying globally. According to the World Wildlife Fund, over 2 billion people lack access to safe drinking water. Some projections show that up to 2.4 billion people could be facing urban water shortages by 2.4 billion.
Among other companies that are up for sale are:
Updates From The Block
Off The Block
Bankruptcy Block
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