Nestle to Create Joint Venture for Frozen Pizza in Europe
April 21 2023 - 7:40AM
Dow Jones News
By Giulia Petroni
Nestle SA is set to create a joint venture for its frozen-pizza
business in Europe with private equity firm PAI Partners.
The Swiss food-and-beverage giant said Friday that it will
retain a noncontrolling stake with equal voting rights alongside
PAI Partners.
The transaction, which is subject to approvals and employee
consultations, is expected to close in the second half of the
year.
Financial details weren't disclosed.
The business will be headquartered in Germany and operate two
manufacturing facilities in Germany and Italy, Nestle said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 21, 2023 08:25 ET (12:25 GMT)
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