The Serbian arm of consumer goods giant Nestle has announced that it is disposing of its children’s chocolate brand Cipiripi.
The firm is selling the product line to Paracinki, a subsidiary of the distribution firm Silbo. Terms of the deal were not disclosed.
The Cipiripi brand range includes confectionery bars, chocolate spread and chocolate drink mix.
Commenting on the deal, Yana Mikhailova, regional director of South Eastern Europe at Nestle said: “The Cipiripi brand has a a rich history, with a presence on the Serbian market for more than 27 years, and is synonymous with childhood memories. In Paracinki, a member of the Silbo distribution group, we have found an exceptional home for Cipiripi , and one in which the brand will have the opportunity to progress further”.
“At the same time, this deal allows Nestle to focus more closely on its globally-recognized brands Kit Kat, Lion, Smarties and After Eight, where we are planning for strong future growth”.