Sector News

Nestle says to sell La Cocinera frozen business to Findus Spain

January 8, 2015
Food & Drink
(Reuters) – Swiss food group Nestle (NESN.VX) said it had signed an agreement to sell its La Cocinera frozen meals business to Findus Spain as part of its ongoing portfolio review.
 
The divestment includes La Cocinera brand and the Valladolid factory, where the frozen culinary products are produced, while the chilled dough products under La Cocinera brand are not part of the deal, the company said in a statement on Thursday.
 
Nestle did not disclose the sale price.
 
The maker of KitKat chocolate bars and Maggi soups is in the middle of a portfolio review and already sold off several underperforming brands, such as its PowerBar energy bars and most of its Jenny Craig weight management business.
 
(Reporting by Silke Koltrowitz)

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