Family-owned Italian chocolate maker Ferrero has agreed to buy 1,000 hectares of land from the Serbian Government to develop what it calls its "centre for hazelnut product" in Europe.

Serbia's Minister of Agriculture, Forestry and Water Management Dragan Glamocic signed a memorandum of understanding with representatives of Ferrero, Adruino Borgogno and William Fulci.

The deal, which is for an undisclosed fee, includes cooperation by Ferrero with individual agricultural producers in central and southern Serbia.

 Source: www.esmmagazine.com