PUERTO RICO: Nestlé de Puerto Rico to merge with Payco Foods
Nestlé de Puerto Rico has reportedly signed a letter of intent to merge with Payco Foods. The letter was signed towards the end of 2002 and final negotiations are expected to be completed during the first quarter of 2003. If the deal goes ahead, a number of Nestlé's ice cream products that are currently manufactured in the US will be relocated to Puerto Rico, reported Caribbean Update.
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