Nestlé Italia to Sell Six Confectionery Brands to Italy’s Fida

14 Jun 2016 --- Nestlé Italia is to sell six of its confectionery brands to Italian sweet company Fida.

The brands being sold by Nestlé Italia are Rossana, Fluxes, Glacia, Fruttallegre, Lemoncella and Spicchi.  No financial details of the deal were disclosed.

Leo Wencel, head of market for the Nestlé Group in Italy, said: “We were impressed by the warmth and affection shown by consumers against Rossana in recent months. “

“We are therefore particularly pleased to have found a solid and experienced partner in the field that, we are sure, will continue to promote these brands in the best way and ensure a successful future.”

Fida president and chief executive officer Eugenio Pinel added: “We are proud of the agreement reached today, which – thanks to significant technological synergies, production and sales – allows us to strengthen our market position by expanding our product portfolio with a much-loved, historical brand.”

“We are ready to invest human and financial resources in its development and empowerment.”

The deal is expected to close by the end of June this year and production of the confectionery brands will move from Perugia to Fida's plant in the north of Italy, near to Turin.

Fida reported sales of around $17m last year.