DUBLIN – Irish drugmaker Perrico is buying the rights to the Nestlé baby food brand in the US and Canada from food giant Nestlé. He’s also taking over the Nestlé factory entrance for baby food in Eau Claire, Wisconsin, Perrico announced Tuesday evening.
Perico is investing a total of $170 million to expand its baby food production in the US. The figure includes a $60 million investment to expand the plant’s production capacity. This is expected to increase annual production capacity from £29m today to £36m. Additionally, Perrico invests approximately $20 million annually in infant formula facilities in Vermont and Ohio.
During the current year, there has been a temporary shortage of baby food in the US, and the US government has had to buy baby milk powder from abroad. The situation has encouraged Perrico to avoid renewed deficits, the company now writes. Meanwhile, by supplying Perico products, Nestlé can fulfill existing contracts. (awp/mc/pg)
Emily Dickinson writes for Social Post News, covering news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on clear, reliable reporting and useful information, helping readers stay informed about current events, emerging trends, and stories that matter.
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