Nestlé Nigeria Plc is seeking regulatory and shareholder approval to transfer its waters and premium beverages business to Peranel, a new joint venture backed by Nestlé S.A. and global investment firm Platinum Equity.
The proposed transaction will see the Nigerian company move its existing waters and premium beverages operations into a newly established entity, which will subsequently become part of Peranel.
The company’s board is seeking the necessary approvals from the Securities and Exchange Commission (SEC), the Federal Competition and Consumer Protection Commission (FCCPC) and shareholders to complete the restructuring.
Brandspur Brand News reports that the development follows an earlier announcement by Nestlé S.A. and Platinum Equity on July 30, 2026, regarding plans to establish Peranel as a joint venture for Nestlé’s waters and premium beverages business.
Peranel is structured as a 50:50 partnership between Nestlé S.A., the parent company of Nestlé Nigeria, and Platinum Equity, a global investment firm.
Nestlé Nigeria disclosed the proposed transfer in a notice to the Nigerian Exchange Limited (NGX), its shareholders and the investing public.
The company’s board met on October 28, 2026, to review management’s report on developments surrounding the proposed transaction and consider the next steps.
As part of its assessment, the board examined independent reports relating to the valuation and fairness of the proposed business transfer.
The reports included an asset valuation prepared by Niyi Fatokun & Co., a business valuation report from KPMG and an independent fairness opinion by Deloitte.
These assessments are intended to provide an independent basis for evaluating the proposed transaction and the consideration to be received for the business.
Nestlé Nigeria also clarified that the restructuring would not change Nestlé S.A.’s ownership interest in the Nigerian subsidiary.
See Also: TGI Group, Interswitch And Nestlé Back National Advertising Conference 2026
The company said further announcements would be made in line with applicable regulatory and disclosure requirements.
The proposed transfer comes as Nestlé Nigeria reports improved financial performance for the nine months ended September 30, 2026.
Its profit before tax rose by 51.5 per cent to N193.88 billion, compared with N127.96 billion recorded in the corresponding period of 2025.
Revenue increased by 10.4 per cent to N976.53 billion from N884.54 billion, while profit after tax climbed by 42.6 per cent to N103.37 billion.
The restructuring remains subject to the required regulatory and shareholder approvals.
