Nestlé has signed an agreement to sell its Ore Liete brand of biscuits to Italy’s Tedesco Group, as it concentrates on growing Perugina into a global company.
The acquisition, terms of which have not been publicly disclosed, follows the sale of six confectionery brands – including Rossana – to Italian sweet company Fida last month. The measures form part of Nestlé’s €60 million plan to strengthen its Perugina brand in markets outside Italy, which included an expansion to its San Sisto factory in Perugia, central Italy.
Production of Ore Liete will be shifted to Tedesco’s new 30,000m2 manufacturing facility north of Perugia, which will allow it to support further development of the Ore Liete brand, Nestlé said.
It will add to Tedesco’s offering in the bakery category, the Swiss-headquartered snacks company continued.
Leo Wencel, head of market for Nestlé in Italy, said: “We favoured a company focused on this type of production, to guarantee continuity and quality at such a known and respected brand as Ore Liete. In the Tedesco Group, with 70 years of presence in Perugia and with its strong industry experience, we have found the best opportunities for the brand’s future.”
Tedesco Group director Agazio Tedesco added: “We are very proud of the acquisition of a brand as loved as Ore Liete, perfectly in line with our company, which is deeply tied to tradition. We will work so that it can continue to accompany moments of sharing in Umbria and across Italy.”
© FoodBev Media Ltd 2020
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