Italy: Nestle sells biscuit brand Ore Liete
FMCG giant Nestle has sold the Italian biscuit brand Ore Liete to the Swiss snacks firm Tedesco, according to reports in FoodBev and Confectionery News.
Ore Liete biscuits were previously under the Perugina umbrella brand at Nestle Italy, and their disposal is said to be part of Nestle’s plan, first announced in March, to turn Perugina into a global brand through a $66 million investment over three years. This strategy has already included the sale of six other confectionery brands (including Fondenti, Glacia, Fruttallegre, Lemoncella and Spicchi) to the Italian firm Fida.
Leo Wendel, head of market at Nestle Italy, said: “We favoured a company focused on this type of production, to guarantee continuity and quality at such a known and respected brand as Ore Liete. In the Tedesco Group, with 70 years of presence in Perugia and with its strong industry experience, we have found the best opportunities for the brand’s future”.
Production of Ore Liete will move to Tedesco’s new 30,000 sq m manufacturing facility north of Perugia, Nestle said.
Source: FoodBev / Confectionery News