The Spanish unit of Swiss food giant Nestlé has reportedly acquired Nestlé Portugal for €550m (US$682.2m).

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The move is designed to optimise the company’s operations on the Iberian Peninsular, AFX News reported, citing local media.


Nestlé España is to run the Portuguese business from its head office in Barcelona, but the two units will remain separate for accounting purposes, a newspaper report said.

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