Czech chocolate manufacturer Nestlé Cokoladovny has merged with its main shareholder Nestlé Food to form a new company called Nestlé Cesko, according to the daily newspaper Hospodarske noviny.
The deal was approved at a Nestle Cokoladovny general meeting in June, and aims to simplify the companies’ administrations and their dealings with clients, suppliers and consumers.
Nestlé Food, which currently imports non-sweet food products, will assume all inherent rights and obligations while Nestle Cokoladovny is dissolved without liquidation.
Nestlé entered the Czech confectionery market during the early 1990s, and last year posted sales of CZK5.23bn (US$0.14bn).
Officials expect Nestlé Cesko to post an annual turnover of more than CZK 7bn in 2001.