Nestle has moved to bolster its presence in the Adriatic with the acquisition of Serbian food and drink maker Centroproizvod.
The world’s largest food maker said the Serbian firm, which makes spices, soups, hot drinks and confectionery, would strengthen its business in the region.
The deal includes Centroproizvod’s “iconic” C brand, Nestle said and the company’s factory in Surcin in the Serbian capital Belgrade.
Marco Travaglia, the head of Nestle’s operations in the Adriatic, said: “This acquisition is a strategic move to strengthen Nestle’s presence in the region. Centroproizvod’s product portfolio is complementary to ours and the local production in Surcin with its distribution capabilities is a great asset for us.”
Centroproizvod is expected to post sales of almost CHF30m (US$35.3m) in 2011, Nestle said.