German food company Frosta said on Monday it was talking to KitKat maker Nestle about buying its Italian frozen food business.
Frosta has entered exclusive negotiations to buy the business, which includes the brands La Valle Degli Orti, Mare Fresco and Surgela, the Bremerhaven-based company said.
“In the framework of the exclusivity Frosta is currently examining whether such an investment would be beneficial for the company,” it said in a statement.
By John Revill
Heineken has entered into an agreement with Sanyo Whisbih Group to take over majority ownership of the Long Chuan Zuan Co brewery in Taiwan. With this investment in local production, Heineken says it will become the first international brewer to have a brewery in the country.
Mondelēz International plans to reopen a potato chip plant, located on the outskirts of Kyiv, that was damaged in the ongoing Russia-Ukraine conflict, according to Reuters. The facility, which was closed in March after suffering serious damage, will resume production while still undergoing repairs, a company spokesperson told Reuters.
Diageo has announced it will wind down its Russian business operations over the next six months, with plans to fully withdraw by the end of the year, according to Reuters. In March, the drinks giant suspended all exports of its products to Russia as well as the manufacturing of its beers, which are brewed locally under license by third parties.