News in brief
Nestlé sells Serbian chocolate brand Cipiripi to local food distributor
Nestlé has agreed to sell its Serbian chocolate brand Cipiripi to Paraćinka, a member of Silbo distribution group, as part of its ‘ongoing portfolio review.’
This move is meant to help the company focus more on innovations in its major global confectionery brands, such as KitKat, Lion, Smarties and After Eight. These brands are “where we see strong future growth,” said Yana Mikhailova, managing director at Nestlé Adriatic.
The transaction includes Cipiripi chocolate tablets and spreads, and it is expected to close by Q2, 2018, following the completion of customary approvals and closing conditions, according to Nestlé.
“No job will be lost as the result of this transaction,” it added.
Nestlé noted it has been operating business in Serbia for 25 years, and has one production factory in Surčin where it employs 547 people.
