Dive Brief:
- Nestle has opened a $9 million plant in Egypt to make Crunch chocolate. The facility marks the first time the company will make candy in that nation.
- The facility adjoins an existing Nestle plant that manufacturers Nescafe coffee and Maggi bouillon cubes.
- The Swiss-based company, which is the world's largest food company by revenue, hopes to use the new candy plant to export sweets across Northern Africa.
Dive Insight:
It's unclear what it is about Egypt that is suddenly winning favor among the global food and beverage giants.
Nestle's plant opening comes just hours after the news that PepsiCo would invest in a juice plant there. And that news comes shortly after Coca-Cola announced its plans for a juice factory.
Surely there's profit potential. But few people seem interested in traveling there these days, which might make it difficult for corporations to get their executives to visit these new operations.