Nestlé has reached an agreement with Singapore-based Fraser & Neave Holdings Berhad that will see F&N takeover the manufacturing and distribution under licence of Nestlé canned liquid milk products in Thailand, Malaysia, Singapore, Brunei and “some other countries in the region”.
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The world’s largest food company said the move was part of its strategy to streamline Nestlé’s product portfolio. The sale will allow Nestlé to further sharpen its focus on value-added branded products, accelerating its expansion in the nutrition, health and wellness category.
