Nestlé agrees deal to build Herta brand
Nestlé has announced an aggreemment that will see a 60% stake of cold meats brand Herta to Casa Tarradellas, a Spanish food producer. Nestlé and Casa Tarradellas will create a joint venture for Herta with their respective stakes of 40% and 60%.
20 December 2019 | 0
A new joint venture between Nestlé and Casa Tarradellas will see the brands join forces to develop and expand the Herta brand of cold meats and other food products. Herta charcuterie is sold in six countries, while a dough business operates in France and Belgium. The deal will be finalised following consultation with employees.
Nestlé will retain and develop its existing Herta vegetarian business, in line with its increased focus on plant-based offerings. The Herta charcuterie and dough business had sales of €667 million in 2018 and has been valued at €690 million. The deal is expeccted to be finalised in the first half of 2020.
In an announcement of the deal, Nestlé said the joint venture will build on the brand’s significant presence and leadership position.
Marco Settembri, Executive Vice President, Chief Executive Officer Zone Europe, Middle East and North Africa, Nestlé said:
“The Herta business has delivered strong performance over the past years,” said Marco Settembri, Nestlé’s CEO for EMEA, “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,” he said, “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, while operations will continue to be managed by the existing local Herta businesses in France, Germany, Belgium and the United Kingdom (also covering Ireland).