Nestlé: sells Yinlu brand to Chinese firm

(CercleFinance.com) - Nestlé has sold its Yinlu peanut milk and canned rice porridge brand in China to Food Wise, in Swiss agrifood giant's latest push to focus on its key markets.


The deal covers all of Yinlu's operations, which generated sales of 700 million Swiss francs (about 650 million euros) last year, including five factories.

The transaction enables Nestlé to focus on key categories in China, such as baby food, confectionery, coffee, culinary, dairy and petcare, the group said.

As part of the deal, Nestlé will retain its ready-to-drink Nescafé coffee business and distribute the products across most of the Greater China region, it said.

The financial terms of the deal were not disclosed.

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