New Delhi: FMCG major Nestle India on Wednesday said it will launch breakfast cereals in India this year in line with its vision to introduce products rooted in nutrition and health.
Nestle Breakfast Cereals' launch in India is set to intensify the competition in the segment, which is dominbated by Kellogg's, PepsiCo and homegrown Bagrry's. Nestle India said it will add Nestle Breakfast Cereals from Cereal Partners Worldwide (CPW) to its existing portfolio this year in India.
"CPW is a 50/50 joint venture which combines the expertise of Nestle S.A, Switzerland and General Mills Inc., United States, to produce and sell breakfast cereals. The Board of Directors of Nestle India has approved the proposal," the company said in a BSE filing.
Commenting on the decision, Nestle India Chairman and Managing Director Suresh Narayanan said: "The consumer need for breakfast choices is only growing and companies need to bring more options to satisfy this need. We are therefore pleased to be introducing Nestle Breakfast Cereals in India.
"This business complements our current portfolio by combining our expertise in food and this category, globally," he added. Headquartered in Switzerland, CPW has a strong global network with 4,600 employees, 17 factories, four R&D centres and sales team in more than 130 markets.
