LONDON, Jan 24 (Reuters) - Nestle said on Friday it will invest $1 billion in Mexico over five years, building two new factories and developing a third in its sixth biggest market.
The world’s No. 1 food maker said it will build a baby-food factory in Jalisco and a pet-food factory in Guanajuato as well as expanding an existing cereal factory there.
The investment would create 700 direct jobs, Nestle said. (Reporting by Martinne Geller; Editing by Louise Ireland)