Swiss food giant Nestlé has announced that it has reached an agreement to sell home delivery business Eismann to an investor group led by German Equity Partners.
The terms of the divestment have not been disclosed and the transaction is subject to regulatory approval.
Eismann is a home delivery business with annual sales of about CHF750m (US$609.4m) and operations in Austria, Belgium, France, Germany, Italy, The Netherlands, Spain and Switzerland.
Nestlé acquired Eismann in 2001 as part of Schöller, a producer and marketer of ice cream in Germany as well as in Central and Northern Europe.
Nestlé said home delivery to private households does not constitute a strategic priority for the company.