Nestlé sells majority stake in Herta to create new JV | Progresiv
Nestlé continues to streamline its operations with a deal to sell a 60% stake in its Herta unit to Spanish company Casa Tarradellas. 
The two firms will then form a joint venture that includes Herta charcuterie (cold cuts and meat-based products) available in six European countries, as well as the Herta dough business in France and Belgium.
Nestlé will retain and develop its existing Herta vegetarian business, in line with its increased focus on plant-based offerings.
The move marks the latest divestment undertaken by Nestlé’s Chief Executive Mark Schneider as he seeks to overhaul the Swiss food giant’s product portfolio to cope with changes in consumer tastes.
The Herta charcuterie and dough business had sales of €667m in 2018 and has been valued at €690m.
The companies stated that the joint venture will build on the brand’s significant presence and leadership position in several European countries. It will also benefit from the “complementary strengths and innovation expertise of both parties in order to continue the successful development of Herta in Europe”.
Marco Settembri, Nestlé’s CEO for Europe, Middle East and North Africa, said: “The Herta business has delivered strong performance over the past years and is well-positioned for future growth. We are happy to have Casa Tarradellas as our partner, a family-run business that is a market leader in Spain for pizza, fresh dough and charcuterie.
“Both companies have a true passion for quality and innovation and are proud to be in a joint venture to provide our consumers with great ingredients for their daily meals.”
The joint venture will be incorporated in Spain. Operations will continue to be managed by the existing local Herta businesses in France, Germany, Belgium and the UK. (www.kamcity.com)
