Nestlé Group has reached an agreement to sell its Italian frozen food brands La Valle Degli Orti, Mare Fresco and Surgela brands.
The buyer is FRoSTA Group, a German frozen food company with €440 million turnover in Italy and a presence in eight countries.
FRoSTA Group is expected to continue the development and promotion of the brands and related business activities.
Development Plan
The deal is part of the Nestlé Italia’s development plan, announced last December, which will see the Benevento factory in Italy’s Campania region become 'an international hub' focused exclusively on the production of Buitoni frozen pizzas.
As a result of the €48 million investment, the plant will overhaul the production lines, introducing cutting-edge technology, thus making it an example of production excellence capable of meeting both domestic and international demand.
The Beneveneto production facility will also see an increase in jobs and a major increase in production capacity for frozen pizzas.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
