Nestle to invest 472 million euros in new pet food plant in Italy
April 10, 2024 at 09:50 am EDT
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ROME (Reuters) - Swiss food multinational Nestle will open a pet food factory in northern Italy, investing 472 million euros ($507.92 million), the country's Industry Minister Adolfo Urso said on Wednesday.
The plant will be based in Mantua, about 160 km (100 miles)south-east of Milan, and is scheduled to be completed by 2027, Urso's ministry said in a statement. It said the new factory was expected to employ 300 people.
Nestle's willingness to strengthen its presence in Italy "confirms the renewed centrality of our country for the production facilities of major global companies," Urso said after meeting the CEO of Nestle Italy, Marco Travaglia.
The decision to open the factory, which will also include a logistics hub, "recognises the strategic role of Italy for Nestle in this strongly developing sector", Travaglia said in the ministry statement.
($1 = 0.9293 euros)
(Reporting by Matteo Negri, editing by Alvise Armellini and Tomasz Janowski)
Nestlé S.A. is the world's leading agri-food group. Net sales break down by category of products as follows:
- powdered and liquid beverages (26.7%): soluble coffees (Nescafé and Starbucks brands), coffee in capsules (Nespresso), chocolate drinks (Nesquik, Milo, etc.), tea drinks (Nestea), etc.;
- pet food (20.3%): brands such as Purina, Friskies, Felix, etc.;
- pharmaceutical, nutrition and well-being products (16.4%): nutritional supplements (Resource, Boost, Nutren, Optifast, Peptamen brands, etc.), infant and maternal nutrition products (NAN, illuma, Cerelac, Nido, Gerber), ketogenic beverages (BrainXpert), (Nesquick, Fitness, Cheerios, Lion, etc.), etc.;
- ready meals and seasoning products (12.5%): frozen and chilled dishes (Lean Cuisine, Hot Pockets and Stouffer's brands), soups (Maggi), etc.;
- dairy products and ice cream (11.8%): powdered milk, sweetened condensed milk, yoghurt and cream desserts, ice cream (Nido, Nesvita, Carnation, La Laitière, Coffee Mate, Nestlé Ice Cream, Dreyers, Häagen-Dazs, Extrême brands, etc.);
- chocolates, sweets and biscuits (8.7%): Kit Kat, Smarties, Cailler, Terrafertil, etc. brands;
- bottled waters (3.6%): Nestlé Pure Life, Vittel, Perrier, S. Pellegrino, etc. brands.
Net sales are distributed geographically as follows: Switzerland (1.2%), France (3.8%), the United Kingdom (3.8%), Germany (2.4%), Europe (12.8%), the United States and Canada (35%), China (5.9%), Asia and Oceania (21.4%) and Latin America (13.7%).