Nestle sold the brand to ‘Cipiripi’

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The Nestle company announced the signing of a resolution regarding the sale of local Serbian confectionary brand ‘Cipiripi Paracinka a.d.’, the member of the Silbo distribution group.

It is expected that the transaction which will include the Cipiripi chocolates and creams, be finalized at the end of the second quarter of 2018, after the completion of the usual approvals and finalization terms.

The Transaction will not affect the jobs at the company Nestle Adriatic.

‘’Cipiripi has a long and rich history, with over 27 years of presence in Serbia and is synonym for wonderful childhood memories. In Paracinka, which is a member of the Silbo distribution group, we have found an extraordinary home for our confectionery brand, Cipiripi, where it can continue to grow. At the same time, this will allow the Nestle company to focus more on the confectionery part of the brand which is wordly famous, such as Kit Kat, Lion, Smarties, After Eight, for which we are planning a strong oncoming growth’’, told Yana Mikhailova, regional director for Nestle’s southeastern Europe market.

Source: BIZLife

Photo: Promo