Nestlé strengthens its position in Japan
The Swiss-based food multinational, Nestlé, has announced that its Japanese subsidiary is to buy the 34 per cent stake in chocolate and confectionery maker, Nestlé Mackintosh K.K., currently owned by the Fujiya company.
The purchase will make Nestlé Mackintosh K.K. a wholly owned subsidiary of Nestlé Japan. The cost of the deal was not released.
A statement from Nestlé headquarters in Vevey said the move was part of a strategy to systematically strengthen its position in important markets.
Nestlé Mackintosh K.K. has sales of more than SFr200 million ($112.4 million) and employs some 400 people.
Nestlé Mackintosh K.K. was established as a joint venture between Nestlé Japan and Fujiya, following Nestlé's purchase of Britain's chocolate and confectionery group, Rowntree-Mackintosh, in 1988.
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