Sector News

Nestle and L’Oreal to end Inneov joint venture in 2015

November 28, 2014
Food & Drink
(Reuters) – French cosmetics giant L’Oreal and food group Nestle on Thursday announced their intention to end their nutritional supplement joint venture Inneov as of the first quarter of next year.
 
Inneov, created in 2002, “has not met the development expected by both partners,” the groups said in a statement. In 2013, Inneov generated sales of 52 million euros (41.26 million pounds).
 
(Reporting by Astrid Wendlandt, editing by Leila Abboud)
 

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