Nestle's private equity partner exits bidding for Perrier business, Bloomberg News reports
Overview of Nestle's Water Business Bidding Process
PAI Partners Withdraws from Bidding
June 8 (Reuters) - Consumer giant Nestle SA's long-time private equity partner PAI Partners has dropped out of bidding for its water business, which includes brands such as Perrier, Bloomberg News reported on Monday.
Reuters could not immediately verify the report.
Remaining Bidders and Recent Developments
Active Bidders
Clayton Dubilier & Rice and billionaire Tom Gores's Platinum Equity were still in the race for a 50% stake in Nestle's water business, the report said, citing people with knowledge of the matter.
Other Withdrawals
KKR & Co dropped out in recent weeks, the report added.
Comments from Involved Parties
Official Statements
Nestle, KKR, and PAI Partners declined to comment.
Pending Responses
Clayton Dubilier & Rice and Platinum Equity did not immediately respond to requests for comment.
Background and Industry Interest
Longstanding Interest in Nestle's Water Business
Nestle's water business has had interest for decades, including from private equity and strategic buyers, Sanjay Bahadur, the then head of group strategy and business development, told Reuters in a 2024 interview.
Reporting Credits
(Reporting by Hyunsu Yim in Barcelona; Editing by Joyjeet Das and Sherry Jacob-Phillips)
