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Nestlé Wishes To Shed French Frozen Food Subsidiary

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Nestlé Wishes To Shed French Frozen Food Subsidiary

According to Le Monde, Nestlé's streamlining process has resulted in the firm's desire to sell Davigel, its French subsidiary that specializes in frozen food.

Davigel, headquartered in Dieppe (Seine-Maritime), France, employs 3,100 people. The company registered a turnover of €700 million in 2013, and €783 million the previous year. The company joined forces with Nestlé in 1989 when it bought Buitoni.

"This mainly involves identifying a partner to help Davigel in its next stage of growth while safeguarding the best interests of employees, customers and shareholders," the Swiss food and beverage giant said in a statement.

Nestlé has already offloaded its French water brands Plancoët and Carola.

Paul Bulcke, CEO, of Nestlé, is anticipating a growth of 4 per cent for the year of 2014.

© 2014 European Supermarket Magazine – your source for the latest retail news. Article written by Peter Donnelly.

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