SWITZ: Nestlé inks Henniez deal
Switzerland's Commission de la concurrence (Comco) has approved Nestle's acquisition of a 61.66% stake in Sources Minérales Henniez SA.
In September, Nestlé Waters has signed a deal to acquire bottled water company Sources Minérales Henniez in Switzerland.
The company will own 61.66% of Henniez at CHF3000 (US$2541) per share and will make a public offer for the rest of the shares in due course.
In September, Nestlé Waters CEO Carlo Donati said: "Henniez perfectly strengthens our existing activities in Switzerland. It brings us modern industrial capacity adapted to evolving consumer needs, a strong distribution network, as well as prestigious local brands which ideally complement our existing portfolio of international brands."
Henniez CEO Nicolas Rouge added: "This transaction safeguards the traditions behind the Henniez company and brand. With Nestlé, we have found a trusted partner to pursue these objectives."
Henniez had sales of CHF152m in 2006. The company employs over 270 people at three sites in the Swiss cantons of Vaud and Valais and sells Henniez and Cristalp branded bottled water. Henniez's joint venture partnership with Eckes-Granini (Granini and Hohes C brands) will continue, Nestlé said.
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