VEVEY, Switzerland — Nestle S.A. has entered into a joint venture with Casa Tarradellas, Barcelona, to divest 60 percent of its Herta charcuterie and dough business. Casa Tarradellas is a manufacturer of processed meats, fresh doughs, stuffed pizzas and other products. Terms of the agreement were not disclosed.
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. Nestle said it will retain and develop its existing Herta vegetarian business, in line with its increased focus on plant-based offerings. Nestle offers a range of plant-based products, including through Garden Gourmet in Europe and Sweet Earth in the United States.
The Herta charcuterie and dough business had sales of €667 million ($742 million) in 2018 and has been valued at €690 million ($768 million). Closing is expected to take place in the first half of 2020.
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).
“The Herta business has delivered strong performance over the past years and is well-positioned for future growth,” said Marco Settembri, executive vice president and CEO of Zone Europe, Middle East and North Africa for Nestle. “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.”