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Nestlé to Swallow Chef America in $2.6bn Buy

News, 08 August 2002


Continuing its stateside expansion, Swiss food and drinks giant Nestlé is buying Chef America, manufacturer of such frozen delights as Hot Pockets, Lean Pockets and Croissant Pockets.

Chef America has enjoyed double-digit percentage growth in recent years and is expected to post 15% expansion in 2002.

The agreed $2.6 billion (€2.7bn; £1.7bn) cash acquisition should not affect Nestlé’s pursuit of Hershey Foods or fellow confectionery manufacturer Adams (owned by Pfizer).

Data sourced from: AdAge.com; additional content by WARC staff