Private equity firm PAI Partners has followed KKR in withdrawing from the bidding process for a potential 50% stake in Nestlé’s water business, which includes brands such as Perrier, according to a report by Bloomberg.
The sale process continues to attract interest from a reduced field of buyout firms, with Clayton Dubilier & Rice and Platinum Equity still understood to be in contention.
Neither Nestlé, PAI Partners nor KKR reportedly commented on the development. Clayton Dubilier & Rice and Platinum Equity also did not immediately respond to requests for comment.
Nestlé’s water division—home to internationally recognised bottled water brands—has periodically attracted buyer interest over the years from both financial sponsors and strategic investors, reflecting long-standing private equity appetite for consumer staples assets with global distribution and stable cash flows.
The current process remains ongoing, and details have not been formally confirmed by the companies involved.
