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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.
Names of the companies and groups involved:
- Founding companies:
- The company “Nestlé SA”;
- The company “Forward I S.à r.l”, owned and controlled by investment entities managed and/or advised directly or indirectly by the company “Platinum Equity Advisors, LLC”, and ultimately controlled by the company “Platinum Equity, LLC”.
- Joint venture: The company “WPB JVco S.à r.l”.
Nature of the operation
- Creation of a joint venture.
Economic sectors concerned
- Production and supply sector of non-alcoholic beverages.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. September 14, 2026.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration project concerning the creation of a joint venture, named “WPB JVco S.à r.l”, equally owned by the companies “Platinum Equity, LLC” and “Nestlé SA”, with the aim of expanding the water and beverage business of the latter. In the context of this operation, the company “Forward I S.à r.l” will acquire 50% of the issued share capital and voting rights of the company “WPB JVco S.à r.l”, while the company “Nestlé SA” will retain the remaining 50%.
“Forward I S.à r.l” is a limited liability company established in the Grand Duchy of Luxembourg, registered under number B308548 and headquartered at 8, Avenue de la Gare, L-1610 Luxembourg, Grand Duchy of Luxembourg. “Forward I S.à r.l” is an acquisition vehicle created specifically for the intended operation. The company “Forward I S.à r.l” is owned and controlled by investment entities managed and/or advised directly or indirectly (including through intermediaries and funds) by the company “Platinum Equity Advisors, LLC”, and ultimately controlled by the company “Platinum Equity, LLC” (together with its affiliated companies, the “Platinum Equity Group”).
“Platinum Equity, LLC” is a limited liability company in the State of Delaware, registered under number 20-0080603 and headquartered at 360 N. Crescent Drive, Beverly Hills, California 90210, United States. The “Platinum Equity” Group specializes in mergers, acquisitions, and operations of companies providing services and solutions to clients in a wide range of sectors, including information technology. In Morocco, the Platinum Equity Group generates revenue through its controlled portfolio companies.
“Nestlé SA” is a Swiss public limited company, registered under number CHE-105.909.036 and listed on the SIX Swiss Exchange under the stock symbol NESN, with its headquarters at 55, Avenue Nestlé, 1800 Vevey, in the canton of Vaud, Switzerland. The company “Nestlé SA” mainly engages in the production, marketing, and sale of a wide variety of food and beverage products, including dairy products, coffee-based beverages, bottled water, cereals, culinary products (including prepared dishes and condiments, sauces, and dry pasta), ice cream, tea and chocolate-based beverages, confectionery, snacks, pet food, and medical nutritional products. In Morocco, the company “Nestlé SA” is primarily present through its subsidiary “Nestlé Maroc SA”, headquartered in Casablanca, which produces, markets, and sells a range of Nestlé’s global consumer products.
The company “WPB JVco S.à r.l” is a limited liability company established in the Grand Duchy of Luxembourg, registered under number B 309.390 and headquartered at 40, Avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg. “WPB JVco S.à r.l” is specifically created for the intended operation to hold the business of “Nestlé SA” related to waters, including still waters, sparkling waters, flavored waters, and non-alcoholic beverages.
Done in Rabat, on September 3, 2026.
