Swiss food giant Nestlé reported second-quarter results, with organic sales, which exclude the impact of acquisitions and currency fluctuations, rising 3.7 percent year-on-year, slightly beating the average analyst forecast of 3.6 percent growth. Pricing increased 1.9 percent, above the expected 1.8 percent, while real internal growth, which reflects sales volumes, came in at 1.8 percent, in line with estimates. For its water and premium beverages business, the company expects to raise around 3 billion euros through a joint venture with investment firm Platinum Equity, with each party holding a 50 percent stake and operating more than 30 brands including S.Pellegrino and Perrier. Nestlé raised its full-year organic sales growth guidance to 3 to 4 percent, up from the previous forecast of around 3 percent.
Nestle S.A.Nestlé reported Q2 organic sales growth of 3.7% (beat estimates), raised full-year guidance, and announced a joint venture for its water business expected to raise ~3 billion euros.
Platinum Equity is forming a 50/50 joint venture with Nestlé for its water business, expected to raise around 3 billion euros.