Casa Tarradellas to acquire a 60% stake in Herta from Nestle for $700m.

Casa Tarradellas, a Spanish food company, agreed to acquire a 60% stake in Herta, a cold cuts and meat-based products provider, from Nestle, for $700m. Nestle and Casa Tarradellas will create a joint venture for Herta with their respective stakes of 40% and 60%. Financial terms were not disclosed. "The Herta business has delivered strong performance over the past years and is well-positioned for future growth. We are happy to have Casa Tarradellas as our partner, a family-run business that is a market leader in Spain for pizza, fresh dough and charcuterie. Both companies have a true passion for quality and innovation and are proud to be in a joint venture to provide our consumers with great ingredients for their daily meals," Marco Settembri, Nestle Executive Vice President, Chief Executive Officer Zone Europe, Middle East and North Africa.