Nestle confirms sale of Buitoni brand's North American business

Nestle confirms sale of Buitoni brand's North American business

Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.

FILE PHOTO: Nestle logo is pictured on the door of the supermarket of Nestle headquarters in Vevey
FILE PHOTO: Nestle logo is pictured on the door of the supermarket of Nestle headquarters in Vevey, Switzerland, February 13, 2020. REUTERS/Pierre Albouy

ZURICH: Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.

It was confirming a report by the Wall Street Journal, which cited a person familiar with the situation as saying the deal values the Buitoni North American business at US$115 million.

"Yes this is correct," a Nestle spokesman said in response to a query about the report, giving no more details immediately.

(Reporting by Michael Shields, Editing by Timothy Heritage)

Source: Reuters

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