Nestlé Italiana S.p.A. has reached an agreement with FRoSTA for the sale of its La Valle Degli Orti, Mare Fresco and Surgela frozen vegetable, seafood, pizza and pasta brands for an undisclosed price. The ownership transfer is scheduled to take place on June 1.
The deal is part of a development plan announced by Nestlé last December, in which its Benevento factory will become “an international hub” focused exclusively on the production of Buitoni frozen pizza products. An overall investment of EUR 48 million will facilitate a major overhaul of production lines as cutting-edge technology is installed to make the plant in Italy’s Campania region more efficient in meeting both domestic and international demand.
No negative impact on employment is expected for workers of the Benevento production facility. According to a Nestlé press release: “It will witness a progressive increase in jobs with the advancement of the development plan, which includes a major increase in production capacity for frozen pizzas.”
Bremerhaven, Germany-headquartered FRoSTA, which was founded in 1963, has been active in Italy for the past 28 years. The Group, which started out in the trawler business, was the first company in Europe to freeze fillet blocks at sea back in 1957. Today, in addition to fish, it produces and markets frozen vegetables, fruits and ready meals at factories in Germany and Poland.
Employing approximately 1,600 people in eight countries, FRoSTA generated sales of EUR 446 million during 2016 – up by 5.9% over the previous year. Consolidated net profits amounted to EUR 21.6 million, compared to EUR 18.2 million in 2015.
