11/25/2020, 8:19 AM (Source: TeleTrader)
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Nestle sells dairy company to Chinese Food Wise

Swiss multinational food and drink processing conglomerate corporation Nestle SA said on Wednesday it decided to sell its Yinlu peanut milk and canned rice porridge businesses in China to Food Wise Co Ltd.

According to the official announcement, the deal covers all of Yinlu's operations, including its five factories in Fujian, Anhui, Hubei, Shandong and Sichuan. Both parties agreed not to disclose the financial terms of the transaction.

Nestle said it will retain its ready-to-drink Nescafe coffee business and distribute the products across most of the Greater China Region.

Baha Breaking News (BBN) / TF