Fida signs deal to purchase six Nestle confectionery brands

Nestlé Italia has signed a preliminary deal for the sale of six confectionery brands to Italian candy manufacturer Fida.

Affected brands are produced at Nestle’s Perugina unit.

Fida manufactures several brands such as Bonelle, Sanagola, Charms, Drops, Tenderness, Gnammy and Irresistible.

Nestle’s brands comprising Rosanna, Fondenti, Glacia, Fruttallegre, Lemoncella e and Spicchi will be produced at Fida’s factory in Castagnole Lanze, Asti, India.

The transaction is expected to close by the end of June.

Nestlé Italia chief market officer Leo Wensel said: "We were impressed by the warmth and affection shown by consumers against Rossana in recent months. We are therefore particularly pleased to have found a solid and experienced partner in the field that, we are sure, we will continue to promote these brands in the best way and ensure a successful future."

Fida president and chief executive officer Eugenio Pinel said: "We are ready to invest human and financial resources in their development and their empowerment. "

This new acquisition would not only enhance Fida’s portfolio but will also strengthen its position in the candy market.

Fida currently has a 3.5% market share, and earned revenue of approximately €15m last year.