Nestlé has entered into an agreement to sell its Nordic premium culinary business to Solina for an undisclosed sum.
The deal includes the cooking sauces and stock brands Oscar and Puljonki, as well as two facilities located in Roennede, Denmark, and Juuka, Finland.
According to Solina, the acquisition of Oscar and Puljonki strengthens the company’s presence across global food channels, allowing the brands to introduce their culinary solutions to new markets.
Nestlé has been involved in the professional premium culinary business in the Nordics since 2011, after acquiring the Oscar and Puljonki brands from the Paulig Group. The sale concerns only Nestlé’s professional premium culinary business in the Nordics; other Nordic categories are unaffected.
Nestlé Professional Zone Europe will continue to oversee the premium culinary business outside of the Nordics, which is currently managed through its subsidiary, Chef, specialising in premium stocks, sauces and cooking cases.
Torben Emborg, Nestlé Nordic market head, said: “We firmly believe that Solina is the right new owner and that they will provide the right environment for nurturing the continued success of the professional premium culinary business in the Nordics”.
“The decision to sell this part of our business will give it the best conditions for future growth whilst allowing Nestlé to place greater focus on the remaining out-of-home portfolio. Nestlé remains committed to the Nordics and will continue to offer high-quality food and beverage products to Nordic families, in and out of home.”
Anthony Francheterre, CEO of Solina, added: “Acquiring Oscar and Puljonki strengthens our foothold in the food service sector in Europe and globally. This positions Solina to cater to customers in the casual dining segment with innovative food solutions that excel in taste, nutrition and more. Additionally, their advanced offerings enrich and further diversify our extensive sauce and liquid capabilities.”
The transaction is expected to close by the end of March this year, following an information process involving employees where necessary.
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