According to Le Monde, Nestlé's streamlining process has resulted in the firm's desire to sell Davigel, its French subsidiary that specializes in frozen food.
Davigel, headquartered in Dieppe (Seine-Maritime), France, employs 3,100 people. The company registered a turnover of €700 million in 2013, and €783 million the previous year. The company joined forces with Nestlé in 1989 when it bought Buitoni.
"This mainly involves identifying a partner to help Davigel in its next stage of growth while safeguarding the best interests of employees, customers and shareholders," the Swiss food and beverage giant said in a statement.
Nestlé has already offloaded its French water brands Plancoët and Carola.
Paul Bulcke, CEO, of Nestlé, is anticipating a growth of 4 per cent for the year of 2014.
© 2014 European Supermarket Magazine – your source for the latest retail news. Article written by Peter Donnelly.
