Nestle, the FMCG multinational, has announced that it is rearranging its confectionery business in Italy, including the sale of six of its brands to the Italian-based sweets firm Fida.
The brands changing hands are Rosanna, Fondenti, Glacia, Fruttallegre, Lemoncella and Spicchi.
The deal comes only three months after Nestle announced plans for a €60 million ($66 million) global expansion of another of its Italian confectionery brands, Baci Perugina.
Commenting on the move, Leo Wencel, head of Nestle in Italy, said:”We have been struck by the warmth and affection shown by consumers for the Rossana brand in recent months. We are therefore especially pleased to have found a solid partner and expert in the confectionery sector who we are sure will continue to promote these brands in the best way to ensure their future success”.
The production of the brands previously held by Nestle will now be moved to Fida’s production site in Asti.