Swiss food group Nestlé is divesting its cold meat brand Herta: 60?% is sold to Spanish Casa Tarradellas, the rest will be placed in a joint venture Nestlé has founded with the with the Spanish company.
A different focus
Herta had been for sale for some time, partly because meat consumption has come under increasing pressure. It is therefore unsurprising that Herta's vegetarian products are not covered by the deal: that range continues to be developed by the Swiss food giant itself. CEO Marc Schneider had previously indicated that he wanted to shift his focus to plant-based products.
In addition to cold meat, Herta is also known for its pies and pizza dough. The German company recorded a turnover of 667?million euros last year. Its new owner is a producer of pizzas, chilled pasta, sandwiches and meat products. The company has an annual turnover of 936?million euros and is a family-run company that was founded in 1976.
Nestlé has been rearranging its brand portfolio for some time now. Just last week, the group sold its American ice cream business, which includes the brand H?agen-Dazs, to its own joint venture Froneri. Earlier, the company also disposed of its skin-care branch (Proactiv), its life insurance department and its American chocolate brand. The downsizing is coming under pressure from shareholders, who are demanding more profit.