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Nestlé and South Korean food group Lotte Wellfood have announced the termination of their joint venture, Lotte-Nestlé Korea, established over a decade ago.

In a statement published on 17 March 2025, Nestlé Korea confirmed that the joint venture would cease to operate by the end of the first quarter of 2026.

Lotte-Nestlé Korea was set up in 2014 to manufacture, distribute, market and sell pet care products as well as a range of food and beverage products. These include Nestlé’s Nescafé soluble coffees, powdered chocolate and malt beverages, powdered fruit beverages and coffee creamers, as well as Nestlé Professional foodservice products in South Korea.

Thomas Casso, CEO of Nestlé Korea, said: “Nestlé and Lotte made this decision after comprehensively considering various factors such as overall global priorities, domestic market conditions and the two companies’ shared capabilities. Both companies will strive to ensure stable operation and change management until the end of the joint venture.”

The two companies said they will actively take necessary support measures and prioritise the wellbeing of the JV’s employees who will be impacted by the decision.