German frozen fish and food processor Frosta said it is in "exclusive" negotiations with Nestlé Italiana over a potential acquisition of three of the latter's brands.

The subject of negotiations is the sales business and the trademark rights for the 'La Valle Degli Orti,' 'Mare Fresco' -- which sells fish products -- and 'Surgela' brands.

Frosta said it is "currently examining if the investment is beneficial for the company."

The company recently reported a 18.6 percent jump in its 2016 profit.