The Swiss giant is planning to increase the capacity of production plants in Veracruz, Guanajuato, Querétaro and the State of Mexico.

"We appreciate the trust placed in our country,” Mexico's President Sheinbaum posted on Tuesday about Nestlé's planned investment in Mexico.

Nestlé (NSE:NEST) plans to invest $1 billion in Mexico over the next three years to expand production across multiple product lines, according to Mexican President Claudia Sheinbaum. She announced the investment

Packaged food company Nestle will invest $1 billion in Mexico over the next three years to boost production of various products, Mexican President Claudia Sheinbaum said on Tuesday. Sheinbaum made the announcement in a video on social media alongside Nestle executives.