To Press Releases listVevey,September 8, 2000
Nestlé Japan Ltd. and Fujiya Co. Ltd. have signed an agreement by which Fujiya will sell to Nestlé Japan the 34 percent share it owns in the capital of Nestlé Mackintosh K.K. This agreement represents the culmination of a very long, successful and mutually beneficial collaboration between Nestlé Japan and Fujiya.
Both companies will continue their co-operation in other related areas of the business. As a result of the agreement, Nestlé Mackintosh K.K., up to now a joint venture owned by the two companies, will become a wholly owned subsidiary of Nestlé Japan. Nestlé Mackintosh K.K. developed strongly during the past few years, thanks to the fruitful collaboration between Nestlé Japan and Fujiya. It has sales of more than CHF 200 million and employs around 400 people.
The Nestlé Group became the world's largest producer of chocolate and confectionery in 1988 when it acquired the Rowntree-Mackintosh Company. In Japan, Fujiya had signed a licence agreement with Rowntree-Mackintosh in 1972 and had started the local production and sale of KitKat in 1973. Nestlé Mackintosh K.K. was established in 1989 in Japan as a joint venture between Nestlé Japan and Fujiya. Since then, KitKat, Crunch and Polo have become leading confectionery brands in Japan. This agreement is part of the Nestlé Group's policy of systematically strengthening its strategic sectors.