Nestlé owns the water brands Perrier, San Pellegrino, Acqua Panna and Pure Life. A company spokesperson confirmed to Just Drinks the “premium beverages” aspect of the spin-off relates to flavoured waters linked to brands such as Maison Perrier.

San Pellegrino and Perrier owner Nestle will spend the coming months carving out its 3.3 billion-Swiss-franc water business and is open to deals and partnerships, a top executive told Reuters.

Nestle SA plans to separate its bottled water brands into a standalone business as new Chief Executive Officer Laurent Freixe seeks to bolster growth at the world’s largest food company.