Nestlé reportedly intends to sell Silver Heron, Nestlé responds No comment

Nestlé reportedly intends to sell Silver Heron, Nestlé responds “No comment”
According to a Bloomberg report on March 12, Nestlé has hired JPMorgan Chase to help it handle the sale of Yinlu Food Group. The sale amount may reach 10 billion US dollars. Potential domestic buyers include Wahaha, Dali Foods, and Unified Enterprises.In response to this news, Nestlé responded to the sauna on March 12, and Yeenet said, “We do not comment on the rumors.Bloomberg reported that Nestlé plans to sell most of the shares held by Yinlu, while considering retaining a minority interest to regulate the production of Nestlé’s ready-to-drink coffee that Yinlu is responsible for.Nestlé originally planned to conduct the first round of bidding in late April or early May of this year, but it may be delayed due to the impact of the new coronary pneumonia epidemic.According to official information, Yinlu Food Group was founded in 1985 and is mainly engaged in the production and operation of canned foods and beverages. The most well-known ones are Yinlu peanut milk and Babao porridge products.Yinlu is headquartered in Fujian and currently has 5 production bases in Xiamen, Shandong, Hubei, Anhui, and Sichuan.In 2011, Nestlé acquired a 60% stake in Yinlu Food Group for US $ 1.5 billion.According to the Yinlu Group’s external statement at the time, Nestlé has great advantages in product development, quality improvement and business promotion. After the cooperation between the two parties, Nestlé’s experience will also provide strong support for the sustainable development of Yinlu.Both parties will jointly develop the two major brands and production capabilities, especially in the central and western regions of China.However, Yinlu’s performance was not satisfactory.Nestlé’s 2019 financial report shows that the sales of Yinlu peanut milk and Babao porridge continued to decline. In the second half of 2019, the Mid-Autumn Festival performance did not meet expectations. In addition to the fierce competitive environment, the company checked Yinlu’s strategy, product mix and business plan, And made impairment treatment accordingly.Nestlé CEO Schneider told the media that although related businesses such as Yinlu peanut milk and Babao porridge have stabilized, a lot of work still needs to be done.Sauna, night net editor Guo Tie Zhu Fenglan proofreading Li Xiangling