Nestlé Nigeria recorded its seventh consecutive profitable quarter while strengthening its balance sheet and advancing plans for a new water business joint venture.
Nestlé and Platinum Equity will establish Peranel, a dedicated global water and premium beverages company spanning more than 30 brands sold across 120 countries.
Nestlé plans to transfer production to a UK co-manufacturer while seeking a new investor to continue confectionery manufacturing at the Hungarian site.
The new Samut Prakan facility will produce Nescafé products, create more than 500 jobs, and strengthen Nestlé’s coffee manufacturing network across Southeast Asia.
Nestlé expands its confectionery-inspired coffee portfolio with two new Nescafé frothy beverages, backed by increased UK manufacturing capacity and continued sustainability progress.