Nestle agreed to sell a 60% stake in Herta's charcuterie and dough business to Casa Tarradellas, creating a Joint Venture valued at EUR690 million. The new entity, incorporated in Spain, will be 60% owned by Casa Tarradellas and 40% by Nestle. The deal covers operations in six countries (France, Germany, Belgium, UK, Ireland, Luxembourg). Nestle explicitly retained the Herta vegetarian business to integrate it into its plant-based portfolio (Garden Gourmet), signaling a strategic pivot away from processed meats towards healthier alternatives.

HERTA, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.1x average currently observed in the AgriFood sector.

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