Nestlé sells Argentine cheese operation to French group
(AP) -- Swiss-based food and drinks group Nestlé said Tuesday it has sold its cheese-making operation in Argentina to a local subsidiary of France's Bongrain Group.
(AP) — Swiss-based food and drinks group Nestlé said Tuesday it has sold its cheese-making operation in Argentina to a local subsidiary of France’s Bongrain Group.
Terms of the deal, which includes the sale of the San Jeronimo factory in Santa Fe province as well as the Adler and Bavaria brands, were not disclosed. The companies are to draw up a distribution contract for the products.
The factory’s 190 employees will join the new organization, Nestlé said. The deal is subject to approval by Argentine competition authorities.
Nestlé said the divestment was part of its policy aimed at “concentrating its activities in sectors considered of strategic importance.”
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