The acquisition, Nestls first investment in an online content property, is a major step in the companys efforts to better serve and enhance the lives of consumers through digital technology and content.
The company plans to acquire a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.
The announcement could lead to more major changes for one of the worlds largest producers and marketers of high-quality fresh fruit and fresh vegetables, which sold its packaged foods and Asia fresh business for $1.69 billion in April.
The combination is a natural next step given the successful long-term partnership between AB InBev and Grupo Modelo, which started more than 20 years ago.
