Nestle looking at partnering frozen food business

Nestle, the Swiss multinational F&B major is planning to enter frozen food business, according to a report published by the Economic Times.

The company said on Friday, that it is looking at options for frozen foods business Davigel, with a view to partnering the unit.

"This mainly involves identifying a partner to help Davigel in its next stage of growth while safeguarding the best interests of employees, customers and shareholders," Nestle said in a statement.

In February, Reuters reported that Nestle was looking at selling Davigel for about 300 million euros (373.44 million US dollar), as part of a drive to trim its sprawling portfolio.

Nestle is one of the largest player in food and beverages segment in the Indian market. Nestlé’s products include baby food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks.