To Press Releases listVevey,June 13, 2000
Nestlé Argentina announces that it has concluded an agreement with Cargill S.A.C.I. for the purchase of its petfood business, including the brands 'Dogui' and 'Gati' as well as of the production plant and related facilities in the city of Saladillo in the Province of Buenos Aires. The staff of more than 200 in the different operational sites of the business will be retained. In 1999, the turnover of the petfood business of Cargill S.A.C.I. amounted to about USD44 million The deal is subject to regulatory approval.
With this acquisition, Nestlé Argentina will become the country's leading petfood company. Its strong distribution network will allow Nestlé to use the full potential of the brands 'Dogui' and 'Gati' and to increase the presence of its international brands 'Friskies' and 'Alpo' in the local market.
At the same time, this new platform will permit Nestlé to reinforce its presence in the petcare market of other Mercosur countries. Nestlé is one of the worldwide leading companies in technology, production and marketing of petfood and, through acquisitions such as Alpo (1994), Spillers (1998) and now Cargill S.A.C.I., has significantly strengthened its geographical and product presence in the petcare sector, which still has a high growth potential.