Nestle sells remaining 40pc Herta stake to Casa Tarradellas

LONDON: Nestle said on Tuesday it had completed the sale of its remaining 40 percent stake in packaged meat business Herta Foods to Spanish company Casa Tarradellas.

No other terms were disclosed.

Nestle said the joint venture that had been created in 2019 when it sold an initial stake in Herta to Casa Tarradellas had come to an end.

Nestle first put Herta charcuterie, the cold cuts and meat-based products unit, under strategic review as it no longer fitted with the company’s strategic focus on healthy nutrition and plant-based offerings.

Nestle currently has water and vitamins businesses under review and new CEO Philipp Navratil has ordered a portfolio-wide review that could see brands sold or partnered off as the world’s largest packaged food company looks to focus on fast-growing areas.