Nestlé S.A., Switzerland, announced plans to sell a 60% stake of Herta to Casa Tarradellas SA, Spain. As a result, Nestlé and Casa Tarradellas will create a joint venture for Herta with their respective stakes of 40% and 60%.
The joint venture includes Herta charcuterie (cold cuts and meat-based products) available in six European countries, as well as the Herta dough business in France and Belgium.
Nestlé will retain and develop its existing Herta vegetarian business in line with its increased focus on plant-based offerings.
The joint venture will build on the brand’s presence and leadership position in several European countries, and benefit from the complementary strengths and innovation expertise of both parties.
"The Herta business has delivered strong performance over the past years, and is well-positioned for future growth,” says Marco Settembri, executive vice president, CEO zone Europe, Middle East and North Africa, Nestlé. “We are happy to have Casa Tarradellas as our partner, a family-run business that is a market leader in Spain for pizza, fresh dough and charcuterie. Both companies have a true passion for quality and innovation and are proud to be in a joint venture to provide our consumers with great ingredients for their daily meals."
The joint venture will be incorporated in Spain. Operations will continue to be managed by the existing local Herta businesses in France, Germany, Belgium (also covering Luxembourg) and the United Kingdom (also covering Ireland).