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Nestle on Thursday posted slightly better than expected second-quarter organic sales growth and said it plans to create a joint venture with Platinum Equity for its waters and premium beverages business.
Private equity firm Platinum Equity is nearing a deal to acquire about a 50% stake in Nestle's European water business in a transaction that would value the joint venture at almost €5 billion ($5.71 billion), the Financial Times reported on Wednesday.
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Nestle is looking to spice up some of its products to counter duller taste buds that can accompany GLP-1 weight-loss drugs.
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The company is working to keep prices in check, as U.S. consumers fixate on affordability and buyers shift toward bulk or budget pack sizes, passing over middle formats.
EXCLUSIVE: The company's interest in the green, tea-based product comes amid volatility in coffee-bean prices and as it looks to tap younger customers.
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