Nestle selling German baby food brands Alete and Milasan to investors for undisclosed sum

Associated Press

Swiss-based food and drink company Nestle SA says it is selling its Alete and Milasan baby food brands in Germany to an investor consortium for an undisclosed sum.

Nestle said Monday that it plans to sell the two brands to BWK GmbH, a German investment company, and private investor Horst Jostock.

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The plan is for the sale of the brands and their factory in the Bavarian town of Weiding to take effect Jan. 1. The new owners are promising to develop and invest in the brands.

Nestle says it plans to concentrate its baby food business in Germany and Austria on another brand, Beba.