News

Nestle sells frozen pasta business

By Sun-Times Wire

Provided

Nestle said Monday it will sell its frozen pasta business, Joseph’s Pasta, to private equity firm Brynwood Partners. Terms weren’t disclosed.

Nestle, the maker of KitKat chocolate bars and Maggi soups, said in October it would dispose of underperforming businesses to slim down its sprawling portfolio which spans from bottled water to baby food, Reuters.com reports.

Nestle acquired Joseph’s Pasta in 2006. It also bought Kraft Food’s frozen pizza business in 2010.

Brynwood Partners recently bought the SnackWell’s cookies and snacks business from Mondelez.

h/t chicagotribune.com

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