BERLIN (AP) — Nestle is selling a majority stake in German sausage maker Herta as the Swiss food and drinks giant focuses more on non-meat products.
Nestle said Thursday it's selling a 60 percent stake of Herta to Spanish family-run firm Casa Tarradellas for an unspecified sum.
The Vevey-based owner of brands such as Stouffer's, KitKat and Gerber said it will keep Herta's vegetarian business and retain a 40 percent stake in the remaining company, which will operate as a joint venture.
Herta, which mainly manufactures cold cuts and other meat-based products and dough, had sales of 667 million euros in 2018.
Nestle said the deal “will ensure the continuity of production sites and the current structure of the business, including its employees.”