Nestlé will establish a new petfood operation in South Korea next month, ending its joint venture with Lotte Wellfood. The joint venture, Lotte-Nestlé Korea, which has marketed petfood, coffee, and culinary products since 2014, will cease operations in the first quarter of 2025.
The new entity, Nestlé Purina PetCare, will take over the petfood segment, marking a strategic shift for the Swiss multinational in the South Korean market. Nestlé Korea CEO, Thomas Caso, stated that the decision was made jointly with Lotte, in response to global business priorities and changes in the domestic market.
Nestlé has not disclosed whether the new operation will include coffee and culinary products or how the transition will affect local jobs. However, the move highlights the company’s growing focus on its petfood business in South Korea.
Purina PetCare, which reported low single-digit growth globally during the first nine months of 2024, is driven by strong sales of premium brands such as Purina ProPlan, Purina ONE, and Fancy Feast. In the same period, global sales of Purina reached CHF 14.015 million (EUR 13.21 million), slightly higher than the previous year.
