Nestlé Portugal announced today that PROLACTO - Lacticínios de S. Miguel, S.A., a milk powder factory in Lagoa, S.Miguel, Azores, which was part of the group until now, is being sold to Quantum Capital Partners.

Paolo Fagnoni, General Manager of Nestlé, said: "Nestle has been present in the Azores since 1971. For many years, Nestlé has produced various milk-based products here, but recently only milk powder, which is sold as an ingredient to various Nestlé factories internally. Following the announcement in August 2017 that Nestlé would explore options for the factory, we are very pleased to have reached an agreement with Quantum Capital Partners. Quantum Capital Partners has demonstrated ambition since the first contact to utilize the entire capacity of the factory and to establish a sustainable long-term business model that leverages good relationships with all local stakeholders and retains the current workforce. Nestlé is confident that Quantum Capital Partners, with its vast experience, will be successful and create value for the communities in São Miguel and the Azores, thus further enhancing the importance of the Azores internationally."Steffen Görig, CEO of Quantum Capital Partners: "PROLACTO has been operating on the island of S. Miguel for many years and has unique skills and a great reputation, which are the result of the excellent work of its employees. I believe that the international experience of Quantum Capital Partners will contribute to promoting the further operational development of PROLACTO and making a sustainable contribution to the region's economy. Nestlé will continue to be an important partner in the future."From the beginning of the process, employees, local authorities, business partners, and other national as well as regional stakeholders have been informed about the process and its development.