Nestlé to Divest Cheese-Making Sector in Argentina

   
To Press Releases listVevey,Nov 30, 1999

The Nestlé Group's policy aims at concentrating its activities in sectors considered of strategic importance.

In this framework, Nestlé indicates that it has divested its cheese-making operation in Argentina by selling it to a local subsidiary of the Bongrain Group based in France.

The transaction comprises the San Jeronimo factory in the province of Santa Fé, as well as the "Adler" and "Bavaria" brands. The factory staff of about 190 will join the new organization.

Furthermore, a distribution contract for the San Jeronimo products has be agreed between Nestlé Argentina and the new owners, allowing both companies to benefit from synergies on the market in Argentina. The agreement is subject to approval by the Argentinian competition authorities.