Member Article

Kent food supplier in 'exclusive talks' to acquire Nestlé frozen food business

Ashford-based food supplier Brakes Group has entered into exclusive discussions to acquire Nestlé’s frozen food arm Davigel.

The acquisition would increase Brakes Group’s presence in France, allow the Group to enter Belgium and Spain,

The proposed merger will create the second largest foodservice company in France and is expected to be worth between €200m and €300m.

Brakes Group is currently run by former chief executive of Greggs, Ken McMeikan, and along with being one of the biggest suppliers to pubs and restaurants in the UK, it has built up operations in France, Ireland and Sweden.

Last year, the swiss food giant also sold its minority stake in L’Oreal Group back to the cosmetics group for about $4bn, a welcome boost as Nestlé continues to redevelop its strategic focus.

The instant transaction is subject to consultations with the relevant works councils and the approval of the competition authorities, Nestle said.

This was posted in Bdaily's Members' News section by Ellen Forster .