Refreshment focuses on the water dispenser/cooler, office coffee service and vending sectors, while also taking an in-depth look into products for vending from bottled water and drinks, to snacks and confectionery. It also focuses on hydration, health and wellness, new technologies and environmental and social responsibility issues.
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Private equity (PE) firms PAI Partners and Bain Capital are reportedly among buyout firms considering bids for Nestlé's water business, which could be valued at around €5 billion or more, according to Bloomberg News.
Clayton Dubilier & Rice and KKR & Co have also been reviewing the business, Bloomberg said, citing sources familiar to the matter. Nestlé may keep a stake in the unit, and investment banks are expected to be appointed soon to explore options.
Refreshment has reached out to Nestlé, but the Swiss food and beverage giant declined to comment.
Late last year, Nestlé CEO Laurent Freixe announced plans to spin off the company's water business and premium beverages division into a standalone global business.
PAI and Nestlé have previously teamed up on joint ventures for their ice cream and frozen pizza assets. In 2023, they agreed to form a joint venture for Nestlé's frozen pizza business in Europe. In 2016, they also established Froneri, a global ice cream company that now operates in 24 countries.
Top image: © San Pellegrino
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