Nestlé Nigeria set to sell water, premium beverages operations to newly established entity

Nestlé Nigeria Plc plans to transfer its waters and premium beverages business to a newly established company, which will then become part of Peranel, a global joint venture, Nairametrics reported Friday.

Peranel is a 50:50 partnership between Nestlé S.A., the parent company, and investment firm Platinum Equity. The two announced the arrangement on July 30, 2026.

In a disclosure to the Nigerian Exchange, the company said its board met on October 28. The board reviewed valuation reports by KPMG and Niyi Fatokun & Co., as well as a fairness opinion by Deloitte. The price was not disclosed.

The deal requires approval from the Securities and Exchange Commission, the Federal Competition and Consumer Protection Commission, and shareholders.

The company said the transaction “does not affect or alter the shareholding of Nestlé in Nestlé Nigeria.”

The move comes as Nestlé Nigeria posted a 42.6 per cent rise in profit after tax to N103.37 billion for the nine months to September 2026.