Food giant Nestlé has said it wanted to move away from commodity products after its decision to sell three milk brands in the Philippines.
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A spokesman for the Switzerland-based group told just-food today (18 April) that the sale forms part of the company’s global strategy to focus more on its “value-added products”.
The spokesman said: “We want to concentrate more on value-added products, rather than produce something of a commodity. The strategy is the same all over – from markets to Greece, to Thailand, to the Philippines.”
Philippines diary group Alaska Milk Corp. has bought the three brands for an undisclosed sum.
Under a two-pronged agreement, Alaska Milk Corp. secured the Alpine, Liberty and Krem-top brands.
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By GlobalDataAlaska Milk Corp. has also attained the licence to produce and sell two other products from Nestlé – Carnation evaporated milk and Milkmaid condensed milk.
Officials at Alaska Milk Corp. could not be reached for further comment as just-food went to press.
