Nestle to Acquire Serbian Food and Beverage Company
Nestle has agreed to acquire the business of Centroproizvod Company, a leading food and beverage producer in Serbia, for an undisclosed price. The Centroproizvod business, which is expected to reach sales of almost SFr30 million (Eur25m) in 2011, includes culinary products such as dry spices and seasonings, soups and dressings; beverages such as chocolate drinks and tea; and confectionery products.
The terms of the deal, which is subject to regulatory approval, include the acquisition of Centroproizvod’s iconic C brand, as well as the company’s factory in Surcin, in the Serbian capital Belgrade.
The acquisition is a strategic move to strengthen Nestle’s presence in the region. Nestle has been present in the Adriatic region since 2003. The Swiss group currently employs around 500 people and operates one factory in Stara Pazova, Serbia.
