Nestlé invests in German pizza firm

Nestlé is to acquire 49 percent of Wagner Tiefkühlprodukte, number 2 in the German frozen pizza market. Wagner has a market share of approximately 33 percent and a turnover of EUR 200 million. In 2003, the German frozen pizza market volume was more than EUR 700 million with average growth rates of around eight percent. Besides supplying the domestic market, Wagner already exports to several West-European countries, among others Austria with a market share of approximately 25 percent.