Lotte, Nestle team up to sell more beverages in KoreaNestle said yesterday that it has agreed with Lotte Group to form a joint venture called Lotte-Nestle Company. The new venture, once approved by the regulatory authority, will manufacture, distribute and sell various products of Nestle in Korea, including Nescafe soluble coffees, powdered chocolate beverages, and coffee creamers.
Nestle Korea CEO Graeme Toft said in a statement that “Combining our expertise in the food business with Lotte’s strength in retail and consumer goods will give us a strong platform to deliver growth and value.”
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