Swiss multinational food and drink processing conglomerate Nestlé is set to sell a 60% stake in German sausage manufacturer Herta to Casa Tarradellas.
Nestlé and Casa Tarradellas have also agreed to establish a new joint venture (JV) company for Herta. The companies will use their 40% and 60% stakes respectively.
The JV will include Herta’s charcuterie business that offers cold cuts and meat-based products in six countries across Europe, as well as its dough businesses located in France and Belgium.
Nestlé Zone Europe, Middle East and North Africa executive vice-president and CEO Marco Settembri 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.”
Nestlé said that it will retain Herta vegetarian business, which supports the company’s plan to focus on plant-based meats.
The new JV will be based in Spain and managed by Herta’s existing teams in France, Germany, Belgium, Luxembourg, the UK and Ireland.
Casa Tarradellas intends to further develop the Herta business in collaboration with Nestlé.
Established in 1976, the company manufactures pizza, fresh dough, sandwiches, espetec (cured sausage), sliced meat and pâté.
Neither company has divulged any financial details. The deal is expected to be completed in the first half of next year.
