Nestle has today (5 January) confirmed speculation it is moving the headquarters of its UK business.
The global giant said it will leave the south London site after more than 45 years in the borough. It is moving to City Place, a business park near Gatwick Airport.
Go deeper with GlobalData
The company said it has been seeking a new head office for several years as it has proved “very difficult” to redevelop the Croydon site, which “cannot provide the facilities we need for the future”.
Paul Grimwood, chairman and CEO of Nestle’s operations in the UK and Ireland, said: “This move represents an exciting new chapter for Nestle in the UK. We are investing across the UK to establish our next generation of world class facilities. Our new head office will provide a modern, efficient and attractive workplace for our people, in an ideal location.”
The business expects to complete the relocation of its 840 office-based employees by the end of the year. It did not comment on whether the move would create or shed jobs.
Croydon Council released a statement expressing its “deep disappointment” at the announcement and revealed that it offered Nestlé an “attractive package” to relocate within the borough.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCouncil leader Mike Fisher said: “We are obviously very disappointed that Nestlé has decided to leave the borough after more than 40 years. We have done everything we possibly could to avoid this outcome, but ultimately we have to respect the fact that Nestle are a footloose global company and can choose where they locate their business.”
In September 2010, Nestle admitted it was considering moving away from Croydon.
