RUSSIA: Nestle in talks to buy juice firm Progress - report
An announcement on Nestle's purchase of Progress is expected in the next few weeks
Nestle is reportedly interested in buying Russian juice and baby food producer Progress.
According to Kommersant, the Swiss bottled water producer is in talks with Progress over the purchase. An announcement is expected to be made in the next two weeks, according to the paper's sources.
When contacted by just-drinks's sister site just-food, however, Nestle Russia said it would not comment on what it labelled "market rumours". Nevertheless, Credit Suisse analyst Victoria Petrova said the acquisition would make sense for Nestle.
Progress, a subsidiary of Progress Capital, produces concentrates, fruit and vegetable juices, and nectars.
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