Nestlé To Sell Perrier and All Other Water Brands
Nestlé is offloading its water brands.
Nestlé has announced that it intends to sell Perrier and all its other water brands.
Reuters is reporting that the retail giant has commissioned the Rothschild bank to sell off its entire water division, as the company looks to “refocus” on other brands.
“Under new CEO Laurent Freixe, Nestlé has been trying to narrow its focus to roughly 30 of its 2,000 brands, prioritising labels including Kit-Kat chocolate wafer bars, Nescafe coffee, NAN infant formula and Maggi noodles and seasonings,” the outlet reported.
However, the corporation intends to maintain a stake in the water business, which includes names such as Perrier and S.Pellegrino, according to a confidential source who spoke on the condition of anonymity.
Another source noted that the water sale might be worth more than 5 billion euros ($5.6 billion).
According to two sources, private equity groups such as Platinum Equity, Blackstone, and One Rock Capital Partners have had preliminary discussions about potential acquisition approaches for the company. PAI Partners and CD&R are among the other interested parties.
“The main struggle is at Perrier, the rest of the brands are performing well,” Vontobel analyst Jean-Philippe Bertschy said. “They have had issues at several (water) sources, and there is an ongoing battle between the French authorities and Nestlé.”
Nestlé Launched New GLP-1 Targeted Food Line
Last year, Nestlé announced that it was launching a new food line targeting GLP-1 customers.
The Vital Pursuit food line originally launched with 12 products, including frozen protein spaghetti, sandwich melts, and pizzas. These goods have more protein and other critical vitamins and minerals, such as iron, vitamin A, and potassium.
What’s more, Vital Pursuit meals are portion controlled and specifically designed for “a weight loss medication user’s appetite,” the company said in a press release last year.
This is the first time a food manufacturer has manufactured dishes exclusively for GLP-1 users, whose medications include the brands Wegovy and Ozempic as well as the generic name semaglutide. Tirzepatide, a GLP-1 medication, is marketed under the brand names Mounjaro and Zepbound.
Furthermore, the corporation stated that it is leading a “growing market opportunity.” According to the American Pharmacists Association, one in every 60 adults was prescribed a GLP-1 medicine in 2023, with that figure predicted to skyrocket by 2030. 30 million people, or around 9% of the total population, could be using a GLP-1 medicine.
