PE firms consider €5bn bid for Nestlé water business – Bloomberg

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Rafaela Sousa

28 March 2025

Business

PE firms consider €5bn bid for Nestlé water business – Bloomberg

Private equity (PE) firms PAI Partners and Bain Capital are reportedly among buyout firms considering bids for Nestlé's water business, which could be valued at around €5 billion or more, according to Bloomberg News.

Clayton Dubilier & Rice and KKR & Co have also been reviewing the business, Bloomberg said, citing sources familiar to the matter. Nestlé may keep a stake in the unit, and investment banks are expected to be appointed soon to explore options.

FoodBev has reached out to Nestlé, but the Swiss food and beverage giant declined to comment.

Late last year, Nestlé CEO Laurent Freixe announced plans to spin off the company's water business and premium beverages division into a standalone global business.

PAI and Nestlé have previously teamed up on joint ventures for their ice cream and frozen pizza assets. In 2023, they agreed to form a joint venture for Nestlé's frozen pizza business in Europe. In 2016, they also established Froneri, a global ice cream company that now operates in 24 countries.