Nestlé Portugal agrees to sell its Azorean milk powder factory to Quantum Capital Partners

Lisbon, 9 April 2018 – Nestlé Portugal announced today that it agreed to sell PROLACTO – Lacticínios de S. Miguel, S.A., the company that holds its milk powder factory in Lagoa, S.Miguel, Azores, to Quantum Capital Partners.

Paolo Fagnoni, Nestlé’s General Manager mentioned: “Nestle has been present in Azores since 1971. For many years, Nestlé has produced various dairy based products, and most recently Nestlé has been producing exclusively milk powder as a dairy based ingredient, sold internally to other Nestlé factories.

Following the announcement in August 2017 that Nestlé would explore options for the factory, we are very pleased to have been able to reach an agreement with Quantum Capital Partners. Quantum Capital Partners demonstrated since first contacts the ambition to leverage the factory's capacity and ensure a long-term sustainable business model, leveraging the good relations with all local stakeholders and keeping current work force.

Nestlé is confident that with its proved past experience, Quantum Capital Partners will be successful and create value for the São Miguel and Azores communities, expanding internationally the Azores' quality equity.”

Steffen Görig, CEO of Quantum Capital Partners: "PROLACTO has been operating for many years on the Island of S. Miguel and has a unique experience and reputation, which is the result of the work carried out by its employees. I believe that Quantum Capital Partners' international experience will help to foster many opportunities to continue developing PROLACTO's activity, contributing in a sustained way to the region’s economy. Nestlé will continue to be a critical partner for the future."

From the very first moment, employees, local authorities, business partners and other national and regional stakeholders have been duly informed about the process and its development.