As part of the ongoing portfolio review, Nestle announced in Serbia the signing of an agreement on the sale of the local confectionary brand CIPIRIPI to Paraćinka AD, a member of the distribution group Silbo. It is expected that the transaction, which includes CIPIRIPI chocolate boards and creams, will be carried out at the end of the second quarter of 2018, after completing the usual approvals and final terms.
Partner Uroš Popović leads the Bojović & Partners team advising Nestle on this transaction.
“CIPIRIPI has a long and rich history, with more than 27 years of presence in Serbia and a synonym for beautiful memories and childhood. In Paraćinka, which is a member of the Silbo distribution group, we have found an exceptional home for our CIPIRIPI confectionery brand, in which it will progress further. At the same time, this allows Nestlé to focus more on a part of the confectionary range of its globally-recognized brands KIT KAT, LION, SMARTIES and AFTER EIGHT, in which we plan a strong future growth” said Yana Mikhailova, Regional Director of South East Europe Nestle.
The official announcement of Nestle can be found here.