Latham Advises Platinum Equity on US$5.6 billion Joint Venture With Nestlé
Latham & Watkins has advised Platinum Equity on the creation of Peranel, a 50/50 joint venture with Nestlé for Nestlé’s waters and premium beverages business. Spanning more than 30 brands with products sold in 120 countries, Peranel includes iconic natural mineral water brands such as S.Pellegrino, Source Perrier, and Acqua Panna as well as premium and functional hydration beverages, the global Nestlé Pure Life brand, and other leading local water brands.
The transaction, which assigns an enterprise value of US$5.6 billion (€4.9 billion) to Peranel, is subject to employee consultation processes and applicable regulatory approvals and is expected to close by the first half of 2027.
The Latham team was led by Washington, D.C. partner David Brown, London partners Thomas Forschbach and Maarten Overmars, and Paris partner Simon Lange, with Milan partner Stefano Sciolla, and associates Antonina Semyachkova, Joanne Amos, Julien Zeitoun, François Blanchet, Angus James Baird, Josie Levick, Ezio Martinez, Marit Bjornlund, Benedict Tansey, Harrison Halberg, Milena Raffaldi, and Mathilda Kanski.
Advice was also provided on financing matters by London partner Dominic Newcomb and Julie Van der Meersche, with associates Avtar Singh Rai and Verity MacInnes; on French public law matters by Gauthier Martin, with counsel Clément Fricaudet, and associate Benoît Offe; on data and technology matters by London partner Richard Offord and Paris partner Jean-Luc Juhan, with London counsel Alain Traill, and associates Callum Lee, Komal Shemar, Oluyinka (Yinka) Ogboye, and Oscar Bjartell; on employment matters by Munich partner Tobias Leder and London partner Kendall Burnett, with London counsel Shaun Thompson and Charlie Bowden, Paris counsel Romain Nairi, and Chicago counsel Daniel Bop, and associates Ellie Marissa Wilson, Cosma Scutiero, and Yanis Gaoua; on tax matters by London partner Karl Mah and Paris partner Olivia Rauch-Ravisé, with London counsel Amy Watkins, and associates Allegra Benitah, Hugo Matricon, and Margot Legent; on litigation matters by London partner Oliver Middleton, with counsel Thomas Lane, and associates Anna Kullmann, Emma Bunting, and Hana Ladhari; on antitrust matters by Brussels partners Anthemis Economou and Philipp Studt, with associate Luca Donatella; on white collar matters by Washington, D.C. partners Les Carnegie and Andrew Galdes, with associate Eric Green; on Italian regulatory matters by partner Cesare Milani with associate Daniele Isidoro; on environmental matters by Los Angeles partner Aron Potash, with associate James Bee; and on regulatory matters by Washington, D.C. partners Nathan Beaton and Jennifer Bragg, and Frankfurt partner Deniz Tschammler, with Washington, D.C. counsel Chad Jennings, and associate Grégoire Paquet.