CCU buys out Nestlé from Chile joint venture

Chilean drinks institution Compañía Cervecerías Unidas (CCU) has bought retired Nestlé from the companies' associated task successful the country.

A connection from CCU said the radical has has paid astir 165m pesos ($180m) for Nestlé's 49.9% involvement successful Aguas CCU-Nestlé Chile.

Following the deal, CCU said it volition proceed to administer h2o and "coffee-based" drinks for Nestlé successful Chile.

In a connection to Just Drinks, the Swiss elephantine said "the transaction reflects Nestlé’s continued absorption connected portfolio subject and simplification, portion ensuring continuity nether CCU’s ownership".

CCU acceptable up the task with Nestlé's Chilean limb successful 2007. Through the agreement, Aguas CCU-Nestlé Chile was fixed a accumulation and income licence for the Nestlé Pura Vida (Pure Life) marque successful Chile.

Through the venture, CCU produces and bottles the Pura Vida marque astatine its facilities successful Coinco and Casablanca. The Cachantun and Porvenir h2o brands were besides bottled done the venture, according to CCU's astir caller yearly report.

The radical besides imports Perrier h2o done the associated venture.

In 2012, the Aguas CCU-Nestlé Chile task acquired a 50% involvement successful the purified h2o supplier Manantial. The business, which produces purified h2o for h2o dispensers for the location and offices, was bought outright done the associated task 4 years later.

Aside from water, CCU's different products see beer, vigor drinks, juices and wine.

The determination follows a enactment reshuffle astatine CCU. At the extremity of past month, the concern announced CEO Patricio Jottar Nasrallah would beryllium leaving his presumption and stepping into a manager relation astatine the company.

Eduardo Ffrench-Davis Rodríguez, who has spent much than a decennary astatine CCU, volition instrumentality the helm adjacent month. His clip astatine CCU includes 2 years starring the Aguas CCU-Nestlé Chile venture.

"CCU buys retired Nestlé from Chile associated venture" was primitively created and published by Just Drinks, a GlobalData owned brand.

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