Nestle India will be adding Nestle Breakfast Cereals from Cereal Partners Worldwide (CPW) to its existing portfolio this year. CPW is a 50/50 joint venture which combines the expertise of Nestle S.A, Switzerland and General Mills Inc., United States, to produce and sell breakfast cereals. The board of directors of Nestle India has approved the proposal.
Suresh Narayanan, Chairman and Managing Director, Nestle India said, "We firmly believe breakfast is the most important meal of the day. We also believe eating a nutritious breakfast sets the tone for the rest of the day and acts as the foundation for a healthier future. The consumer need for breakfast choices is only growing and companies need to bring more options to satisfy this need. We are therefore pleased to be introducing Nestle Breakfast Cereals in India. This business complements our current portfolio by combining our expertise in food and this category, globally."
With this launch, Nestle India's objective is to provide high quality nutritious breakfast cereals to our customers in India.
Shares of the company gained Rs 33, or 0.36%, to trade at Rs 9,125.00. The total volume of shares traded was 1,185 at the BSE (10.04 a.m., Thursday).