Nestle S.A. is a multinational packaged food company, that manufactures and markets a wide range of food products. The Company's product line includes milk, chocolate, confectionery, bottled water, coffee, creamer, food seasoning and pet foods.
Private equity firms PAI Partners and Bain Capital are reportedly considering bids for Nestlé's water business, which could be valued at approximately €5 billion, according to Bloomberg News. Other firms, including Clayton Dubilier & Rice and KKR & Co, are also evaluating the opportunity.
Nestlé may retain a stake in the water unit, and investment banks are expected to be appointed soon to explore potential options for the business. Nestlé has not commented on these developments.
In late 2022, Nestlé CEO Laurent Freixe announced plans to spin off the water business and premium beverages division into a standalone entity. This move aligns with the company's strategy to streamline operations and focus on core areas.
PAI Partners and Nestlé have a history of collaboration, having previously formed joint ventures for ice cream and frozen pizza assets. In 2023, they established a joint venture for Nestlé's frozen pizza business in Europe, and in 2016, they created Froneri, a global ice cream company operating in 24 countries.
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