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Perrier Boosts Nestle’s Bubble as Activist Loeb Busts In
- Water brand plans 200 million-euro investment at French plant
- CEO calls water a growth engine as activist investor pounces
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Perrier opened a new production line at its plant in the south of France last month that speeds the process of filling green, teardrop-shaped bottles with bubbling mineral water for shipment around the world.
Now the brand’s owner, Nestle SA, is further ramping up production, planning its biggest factory upgrade since it acquired Perrier a quarter century ago. The Swiss giant said Monday it plans to spend 200 million euros ($223 million) to add three similar lines, bringing the total to 15, increasing employment by 200 and lifting output by more than 40 percent through 2020.