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Nestle sells Yinlu business in China amid portfolio cleanup

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Nestle has agreed to sell its Yinlu peanut milk and canned rice porridge businesses in China to Food Wise Co Ltd, a company controlled by the family of Yinlu founder Chen Qingshui, the world's largest packaged food group said on Wednesday.

FILE PHOTO: The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann

The deal covers all of Yinlu’s operations, including its five factories in Fujian, Anhui, Hubei, Shandong and Sichuan. Yinlu brands had sales of 700 million Swiss francs in 2019.

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