Dive Brief:
- Nestle's Davigel might be getting a new partner as the world's largest food company ponders possibilities for it.
- Reuters said in February Nestle was considering selling the frozen food business at around $374 million. Nestle had purchased Davigel's parent company Buitoni in the late 1980s, according to Bloomberg.
- "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," Nestle announced.
Dive Insight:
Food Dive forecast this possibility of a Davigel sale in June. Nestle has been getting rid of "dead wood," as CEO Paul Bulcke said at an investors conference, and Bloomberg also noted it sold Juicy Juice earlier this year. Nestle also recently cut almost half its ad agencies.