Nestlé to sell liquid milk businesses in South-East Asia
Vevey, 16 October 2006 – As part of the process of streamlining its product portfolio currently underway, Nestlé has reached agreement to sell certain of its canned liquid milk businesses to Fraser & Neave Holdings Berhad (F&N), a Singapore-based company. F&N will take over the manufacturing and distribution under licence of Nestlé canned liquid milk products in Thailand, Malaysia, Singapore, Brunei and some other countries in the region from 1 February 2007. Under the agreement, F&N will acquire a number of liquid milk production assets currently located in Nestlé plants in Thailand.
This agreement will enable Nestlé to further sharpen its focus on higher value-added branded products, thereby accelerating its move towards nutrition, health and wellness.
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