To Press Releases listVevey,July 19, 2004
Nestlé announces that it has reached agreement with German Equity Partners II ("GEP") for the sale to an investor group led by GEP of the Eismann Group of companies. The terms of the divestment have not been disclosed and the transaction is subject to regulatory approval.
Eismann is a home delivery business with annual sales of about CHF 750 mio. with operations in Germany, Italy, France, Spain, Switzerland, The Netherlands, Belgium and Austria.
Nestlé acquired Eismann in 2001 as part of Schöller, a major producer and marketer of ice cream in Germany as well as in Central and Northern Europe. Home delivery to private households does not constitute a strategic priority for Nestlé. The Company believes, however, in the future potential of Eismann under an ownership that has the necessary strategic focus to grow and develop the business.
The successive sales, over the past twelve months, of the Trinks beverage distribution business, cocoa beans processing in Germany and the UK and now of Eismann, with combined revenues of over CHF two billion, demonstrate the Group’s determination to focus on its strategic businesses, manufacturing and marketing high value-added, R&D driven, food and beverage products.