Nestlé to Explore Strategic Options for Frozen Unit Davigel

17 Nov 2014 --- As part of its on-going portfolio review, Nestlé announced that it is exploring strategic options for the development of its subsidiary Davigel, a leading provider of branded frozen and chilled food products, ice-cream and solutions for out of home in Europe.

This mainly involves identifying a partner to help Davigel in its next stage of growth while safeguarding the best interests of employees, customers and shareholders.

In February, Reuters reported that Nestle was looking at selling Davigel for about 300 million euros (373.44 million US dollar), as part of a drive to trim its sprawling portfolio.

Nestle has owned Davigel since it bought the unit’s parent company, pasta and pizza maker Buitoni in the late 1980s. Nestle announced a 40 million-euro investment to expand a French Davigel factory in April 2013. The unit had sales of 783 million euros in 2012.