Nov 25, 2020 07:57 PM (GMT+8) · EqualOcean
Nestle has agreed to sell its Yinlu food, which produces peanut milk, Babao porridge and other products in China, to food wise Co., to focus on the faster growing categories in the region. According to stifel analysts estimates, the transaction price may be around 350 million Swiss francs. As part of the deal, Nestle will retain its ready to drink Nestle business and Yinlu will continue to produce the product. Food wise is a company controlled by Chen Qingshui family, founder of Yinlu. In 2011, Nestle acquired Yinlu in an attempt to seize the dividend from the rapid growth of China's demand, but after a few years, it faced the situation of sluggish growth.

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