To Press Releases listVevey,October 10, 2003
The Nestlé Group has reached agreement with a group of German breweries to sell 51 percent of Trinks GmbH Goslar and Trinks Süd GmbH München, wholly owned subsidiaries of Nestlé Waters Deutschland. Trinks is Germany's largest beverage logistics organization and already realizes nearly 50 percent of its sales in the beer sector, while 40 percent of sales concern mineral water.
The breweries intend to maintain the present business model of Trinks which serves several hundred beverage producers. In 2002, Trinks reached sales of about one billion Euro and distributed 1.3 billion liters of beverages. The transaction is subject to regulatory approval and will have no impact on employment.
Nestlé expects the definitive contract to be signed in October 2003. The new ownership structure will be operational starting January 2004. From that time on, Trinks will not be consolidated anymore in the Nestlé accounts and Nestlé has agreed with the new majority holders that its participation will be reduced yet further in the years to come. The move illustrates the Nestlé Group's determination to concentrate on its higher yield core operations and to favor margin improvement over sales growth.
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