Nestle to Sell New Zealand Sugar Confectionery BrandsNestle to Sell New Zealand Sugar Confectionery Brands
July 16, 2018
Swiss-owned food and beverage giant Nestle plans to part ways with its New Zealand sugar confectionery brands in a bid to sharpen its focus on its medicated lozenge, baking, and chocolate brands in the country, the global manufacturer announced in a July 11 press release.
A conditional agreement was reached with Quadrant Private Equity to purchase Nestle’s New Zealand brands Black Knight, Fabulicious Red Licorice, Mackintosh’s and its Oceania brands Life Savers and Oddfellows.
Quadrant is expected to continue production of the sugar confectionery products in New Zealand. The Swiss firm said it also plans to lower the production levels of its confectionery products manufacturing plant in Wiri, shifting the bulk of the facility’s output to culinary products like Maggi soups and seasonings.
Nestle said the Wiri plant’s current headcount of more than 270 will be reduced by up to 55 positions. With the purchase of the Swiss firm’s brand, Quadrant said it plans to offer some of the impacted workers new jobs at its plant in Levin.
“This doesn’t reflect the personal efforts of our staff. It has been based on a careful consideration of how to focus our activities and resources, recognizing that our sugar confectionery range in New Zealand is largely made up of smaller local brands,” said Nestle Confectionery General Manager Martin Brown in a statement.
The global food and beverage maker said it is offering local staff and unions a period to comment on the plan and that it will offer consulting to employees that face separations.
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