Consumer goods giant Nestle has entered into exclusive negotiations with private equity fund FnB to sell its baby food brands in France, according to Just Food and FoodBev reports.
The deal would see the company transfer its line of NaturNes baby pots, Babicao and Babivanille flavoured cereal powders, and P’tit yogurts, which are produced in Arches, France but exported globally.
“This proposed sale would have no impact on the employees concerned” and will “not change the company’s relationship with its customers, partners or local suppliers”, the company is quoted as saying, adding that the disposal would allow it to allocate more resources to its infant formula division.
The transaction is expected to close in the first half of 2024, subject to a mandatory consultation period, regulatory approval and the negotiation of sale agreements. Financial terms were not disclosed.
Source: Just Food / FoodBev