Nestlé has agreed to sell its Nordic professional premium culinary business, including the Oscar and Puljonki brands, to food ingredients maker, Solina.
The deal also includes two factories: one in Rønnede, Denmark, and the other in Juuka, Finland, the food giant noted.
Nestlé and Solina expect to close the transaction by the end of March.
Marketing manager for Nestlé Nordics, Torben Emborg commented, "We are firmly convinced that Solina is the right new owner of the Nordic professional premium culinary business and that they will offer the right environment for the continued success of the business.
"The decision to sell this part of our business will give it the best conditions for future growth while enabling Nestlé to focus more on our remaining out-of-home portfolio. Nestlé continues to have a strong commitment to the Nordics and will continue to offer high-quality food and beverages to Nordic families, both inside and outside the home."
Acquisition
The acquisition of Oscar and Puljonki will help Solina consolidate its cross-channel presence in the global food landscape, Nestlé added.
It will also strengthen the position of these brands' by reaching out to new markets and customers.
Anthony Francheterre, CEO of Solina, explained, "Acquiring Oscar and Puljonki strengthens our foothold in the food service sector in Europe and globally.
"This [acquisition] places Solina in a strong position to serve customers in the casual dining segment with innovative food solutions that excel in taste, nutrition and more."
Recently, Nestlé introduced the first KitKat bars produced from cocoa mass made from beans grown by farmer families engaged in the company’s income accelerator, to European markets.
