Nestlé offloads Herta stake to joint-venture partner Casa Tarradellas

Core Viewpoint - Nestlé has divested its remaining 40% stake in the Herta charcuterie business to Casa Tarradellas, marking the end of their joint venture established in 2019 [1][2] Group 1: Divestment Details - The sale gives full control of the Herta charcuterie business to Casa Tarradellas, which had previously acquired a 60% stake from Nestlé [1] - Financial terms of the sale were not disclosed, and Nestlé does not provide specific sales figures for its joint ventures [1][2] Group 2: Business Performance and Strategy - The Herta charcuterie and dough business generated sales of €667 million (approximately $785.4 million) in the year prior to the partnership's establishment [2] - Nestlé operates ten factories in Spain across various product categories, indicating a broad operational footprint in the region [3] Group 3: Leadership and Future Direction - Nestlé's new CEO, Philipp Navratil, is reviewing the company's portfolio to ensure it aligns with growth and performance criteria [4] - Navratil emphasized the need for a "winning portfolio" and indicated that actions will be taken if certain businesses do not meet performance standards [4] - The company plans to implement 16,000 job cuts over the next two years, focusing on both white-collar and manufacturing roles [5]