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Evening Standard

Holly Williams

Nestle spins out Buxton and Perrier water arm into £4.2bn joint venture

Nestle Buxton Platinum Equity Platinum Unite GMB

Nestle plans to spin out its Buxton and Perrier water business to create a joint venture business (Alamy/PA) -

Nestle has confirmed plans to spin out its Buxton and Perrier water business to create a joint venture business worth around 4.9 billion euros (£4.2 billion).

The Swiss maker of Kit Kat has agreed a deal with private equity firm Platinum Equity to form a new company called Peranel, in which they will each own a 50% stake.

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