An announcement on Nestles purchase of Progress is expected in the next few weeks

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.

"It is a very good brand, a strong addition to [a] porfolio and the synergies are pretty obvious. It used to be a part of Lebedyansky, which PepsiCo acquired in 2007," she told just-food.

Progress, a subsidiary of Progress Capital, produces concentrates, fruit and vegetable juices, and nectars.