Nestlé is moving ahead with plans to sell all or part of its mineral water business to reduce debt and refocus on its core brands. The divestment, advised by Rothschild, is expected to fetch between EUR 5 and 5.6 billion (USD 5.4–6.0 billion). Private-equity investors including Platinum Equity, Blackstone, One Rock Capital Partners, PAI Partners, and CD&R are reported to be in active discussions. The plan forms part of a broader restructuring under new CEO Philipp Navratil, who aims to save EUR 3.2 billion by 2027 and cut approximately 16,000 jobs over the next two years.
The water division, Nestlé Waters, includes brands such as Perrier, San Pellegrino, Acqua Panna, Levissima, Vittel, and Contrex. It generated CHF 722 million (USD 874 million) in Q1 2025, accounting for less than 4% of group sales. Former CEO Laurent Freixe, who led the company until mid-2025, initially preferred a partial sale or partnership model, stating that “to unlock the full potential, we need a partner as co-investor.” Following his resignation over personal allegations, Paul Bulcke was succeeded as chairman by Pablo Isla, and Navratil took over as CEO.
The sale coincides with ongoing controversy in France, where ANSES and local prosecutors are investigating Nestlé Waters for the use of illegal filtration methods and contamination concerns involving bacteria, pesticides, and PFAS. The French government ordered the suspension of certain micro-filtration systems at the Perrier plant in Gard, while Nestlé insists its bottled waters remain safe and compliant (inside.beer, 5.3.2024).
By streamlining its portfolio, Nestlé intends to focus resources on higher-margin global brands such as KitKat, Nescafé, and Nespresso. Analysts view the move as part of a wider beverage industry trend toward exiting low-margin bottled-water operations in favor of profitable, premium categories.
