Ogeu, group of mineral waters, has reached an agreement to purchase the source of Quézac, in France, from Nestlé. The two groups have announced today the agreement, which puts an end to negotiations lasted two years.
The amount of the sale was not disclosed. There are no cuts in jobs, as stated in the joint statement. With this operation, Ogeu hopes to strengthen the segment of mineral waters in France.
The sale of Quézac, with an annual turnover of 20 million euros, reflects according to Nestlé Waters France its "strategic will to concentrate its resources on its national and international flagship brands".
In addition to maintaining staff, the OGEU takeover project provides an industrial investment of more than €3 million, as well as an enhanced marketing and sales support plan for the Quézac brand.
Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th
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