Daily Management Review

Rothschild To Manage Herta’s Sales For Nestle


02/27/2019


The packaged food giant has got Herta on board to manage its packaged meat sale.



Source: commons.wikimedia.org; (CC BY-SA 3.0)
Source: commons.wikimedia.org; (CC BY-SA 3.0)
Nestle, the giant of packaged food, has employed “bankers at Rothschild” for selling its “packaged meat” Herta, revealed “two sources” who are in the know of the development. The directive has come after an announcement of Nestle which was made in the earlier part of this month, whereby it informed about “putting the processed meat company on the block”. This step has been taken as the company looks into concentrating on “its faster-growing enterprises”.
 
According to a source, who refused to be identified, the above mentioned business could get nearly “500 million Swiss francs” through sale. Herta’s business extends to “France, Germany, Belgium, Luxembourg, the United Kingdom and Ireland”. In 2018, its sales amounted to around “680 million Swiss francs” which equals to “$680.07 million”. In the words of the chief executive of Nestle, Mark Schneider:
“What makes this review a very good and strong option, is the fact that we’ve seen a very significant recovery in the business, very significant turnaround underway over the last two years that bolstered operating profitability and growth, and really positioned the company quite well”.
 
However, as per yet another source, Nestle might take the business to “other players”, such as “Germany’s Reinert, and private equity firms” like “IK Investment Partners”. In fact, Nestle is now looking into selling “its much larger skin health business”, although no authorities from either companies’, “Nestle and Rothschild”, were ready to comment on the development.
 
 
References:
reuters.com







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