Nestlé to buy Linda McCartney – The Business

(Story found via the del.icio.us - tag - vegetarian link)

Some business news: Nestlé, who own nearly 50% of L’ Oreal, who in turn recently bought out the Body Shop chain, are going to by the Linda McCartney brand from Heinz:

“Swiss food giant Nestlé is preparing to buy Linda McCartney, the vegetarian frozen foods business from Heinz.

Nestlé and Linda McCartney logo's Nestlé owns 50.1% of Israel’s Osem, whose subsidiary Tivall is understood to be readying an offer for Linda McCartney. Tivall already sells similar products like vegetarian sausages and burgers, to British supermarkets Marks & Spencer, Sainsbury, and Tesco.

A Heinz spokesperson would not comment on any specific approach being made for Linda McCartney, but said: “We continue to explore options to maximise the value of the [frozen food] business.”

A source, however, stated that a month ago Heinz had stopped the £200m (E289m, $350m) sale of its frozen food business, which also includes Weight Watchers, because private equity and trade bids came in too low. The source added that some of the periphery frozen food brands, including Linda McCartney, would be sold regardless. “

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A comment from cityhippy who bookmarked this story on del.icio.us »

“Another one bites the dust. Simply put: Nestle are mainstreaming ethical product lines because consumers are mainstreaming their consciences. And regardless of what anyone says about who profits more people buying green is good.”

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