Nestlé's strategic overhaul includes a potential €5bn sale of a 50% stake in its European water business, currently advancing through the next bidding round. Private equity firms CD&R, KKR, and PAI are in contention, alongside Platinum Equity's interest. This move involves brands like Perrier and San Pellegrino.

The Swiss group, led by new CEO Philipp Navratil, aims to shed slower-growing assets as part of a major restructuring that has already triggered 16,000 job cuts. CD&R, KKR, and PAI are the leading contenders in this significant asset disposal. Nestlé has engaged investment bankers to explore this stake sale, following its $4bn exit of the North American water business last year. This €5bn valuation underscores the premium investors place on premium European water brands amidst broader consumer goods sector consolidation. The deal aligns with Navratil's strategy to refocus Nestlé on coffee, petcare, nutrition, and snacks, while offloading non-core divisions. This transaction signals a decisive shift towards profitability for the struggling group.