Vesco Foods has signed a ten-year licence agreement with Nestlé to manufacture and market the Lean Cuisine frozen ready meal brand in Australia and New Zealand.
Prior to the agreement, Simplot Australia, which has manufactured and marketed the brand since 2009, announced its decision not to renew its licence agreement which it ends in November 2019, in line with a broader business review that saw the company exit the frozen meals category.
Vesco Foods will manufacture the range at its Perth and Brisbane facilities.
"Vesco Foods is a focused ready meals manufacturer, with a strong track record of innovation in the category," Vesco Foods CEO Bernie Pummell said. "This is a logical and important growth initiative for us and we look forward to developing and growing the Lean Cuisine brand in this region."
Nestlé Australia Sales Director Andrew Lawrey said, ”Vesco Foods has a strong position in the frozen meals category and we are confident they will advance the Lean Cuisine business in the future.”
Nestlé said the three companies have committed to work closely together to ensure consumers and customers experience a smooth and seamless transition in 2019.
Terms of the agreement have not been disclosed.
