Nestlé S.A., the majority shareholder of Nestlé Pakistan, has struck a deal with private equity firm Platinum Equity to carve out its global waters and premium beverages business into a standalone company, in a move that will reshape one of the world’s largest bottled water portfolios.

The two partners will each hold a 50 percent stake in the new entity, which will be called Peranel, Nestlé Pakistan disclosed in a filing to the Pakistan Stock Exchange on Wednesday. The transaction is expected to close in the first half of 2027, pending employee consultations and the usual gauntlet of regulatory approvals.

Peranel will inherit a sprawling empire of more than 30 brands sold across 120 countries. The roster includes some of the most recognisable names in mineral water — S.Pellegrino, Perrier, Acqua Panna, and Nestlé Pure Life — alongside a stable of regional labels. The company will be headquartered in Paris and led by Muriel Lienau, who currently runs Nestlé’s waters and premium beverages division.

For Nestlé Pakistan, the deal hits close to home. The company confirmed that its local water operations fall within the scope of the global transaction. However, execution in Pakistan hinges on definitive agreements and the necessary corporate and regulatory green lights. For now, the company said it merely intends to incorporate a local entity, promising further disclosures if and when material developments materialise.

The joint venture, Nestlé said, is designed to build a focused, agile company better positioned to chase growth in the global water and premium beverages market — one that can draw on the operational muscle of both a food-and-beverage giant and a deep-pocketed private equity player