Nestle sells frozen foods business

Noam Stiekema

Nestle has revealed that it is investigating the possibilities of selling its frozen foods business in an attempt to clear your portfolio from small companies. The Swiss-based company claims that it was considering “strategic options” – a euphemism often used for sale – on Davigel, producing dishes and desserts for restaurants, schools and other institutional […]

Nestle

NestleNestle has revealed that it is investigating the possibilities of selling its frozen foods business in an attempt to clear your portfolio from small companies. The Swiss-based company claims that it was considering “strategic options” – a euphemism often used for sale – on Davigel, producing dishes and desserts for restaurants, schools and other institutional clients. Nestle sells frozen foods business, which is based in northern France and has revenue of about 700 million EUR in 2013.

“Nestle exploring various options for the development of Davigel”, says company spokesperson Chris Hogg. He added that the business model of Davigel is different from that used in the rest of Nestle and “can not take advantage of the investment priorities of the group”. The options include finding a partner “to help Davigel the next stage of growth”, said Hogg.

The analysts said the division, which bear the consequences of the delay in the European economies could reach a price of 300 million EUR. Nestle declined to comment on the possible sale price. Nestle, which is the largest food company in the world by sales, is in the midst of clearing its portfolio of small companies. In recent years the company has signed deals to sell PowerBar and many businesses with dietary foods Jenny Craig. Also sell some brands of bottled water and ice cream.

Prepared foods, including frozen products, such as those created by Davigel, are a sore spot for the company, as in the nine months to 30 September sales sank almost 6.2%. The aAnalysts believe that the decision to sell Nestle Davigel meets its overall strategy. Davigel becomes the property of Nestle in 1989. The brand is particularly strong in France, which generates about 90% of its revenue. Spain and Belgium are its other two major market.

Read this next

Digital Assets

EOS Network Foundation rebrands EOSIO protocol as Antelope

The EOS Network Foundation (ENF), the new entity entrusted by the EOS community to develop its core blockchain software, said Antelope protocol will fork from EOSIO 2.0 and make “a leap for freedom.”

Digital Assets

Crypto.com receives FCA greenlight to operate in the UK

Crypto.com, one of the longest-established crypto platforms, has received a regulatory go-ahead to launch its services in the UK.

Retail FX

Plus500 reports $511.4 million revenue for the first semester 2022

Plus500 today has published its interim financial results for the first six months of its fiscal year 2022.

Digital Assets

AAX ranked among top crypto exchanges by CoinGecko and CryptoCompare

CoinGecko, one of the earliest crypto data aggregators, has ranked Atom Asset Exchange (AAX) as one of the most trusted cryptocurrency trading platforms. This milestone comes hot on the heels of AAX being recognized as the world’s second largest crypto exchange by spot trading volumes.

Retail FX

Financial Commission adds FX broker Bold Prime to membership roster

The Financial Commission today announced that it has added Bold Prime to its member roster, which is made up of online brokerages operating in FX, derivatives and cryptocurrency markets.

Digital Assets

Despite crypto winter, Cake DeFi paid out $58 million in Q2 rewards

According to its latest ‘Transparency Report,’ Cake DeFi continued its growth trajectory in the three months through June 2022, even as the entire crypto industry experienced macro challenges this quarter.

Retail FX

SimpleFX Review: Cryptos, Spreads, Pros & Cons

SimpleFX combines years of Forex and cryptocurrency experience with a focus on offering resources to retail traders. 

Retail FX

Ironbeam becomes CME clearing member and launches MT5

“The direct clearing aspect along with our low-latency proprietary trading tools and technology solutions make Ironbeam the ideal trading destination.”

Institutional FX

Top 0.07%: oneZero makes it to Inc. 5000 of fastest growing companies in America

oneZero started out by serving the foreign exchange trading community, developing and executing technology that could scale with the growth of the FX market.

<