Nestle : stockpiling in UK ahead of Brexit, CEO tells FAZ
December 21, 2018 at 10:48 pm IST
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ZURICH (Reuters) - The world's biggest packaged food maker Nestle has ramped up stock in Britain to prepare for any challenges it may face in supplying the country following Britain's divorce from the EU, CEO Ulf Mark Schneider said in an interview.
"As a precaution, we've increased our stockpiles in Britain in key areas," Schneider told Germany's Frankfurter Allgemeine Zeitung in an interview, to be published on Saturday. "So if it should come to any delays or problems, we'll remain able to serve British consumers."
The head of the Swiss-based group also said that Nestle, which struck a $7 billion (5.53 billion pounds) coffee licensing deal with Starbucks in May and has been exploring options to shed its skin care unit, will continue adjusting its portfolio of brands through acquisitions and divestitures.
"We've got the courage for it and will seize good opportunities to buy," Schneider said. "On the other hand, there will also be businesses we part from because they no longer fit into our strategy, or their growth prospects aren't that good anymore."
(Reporting by Brenna Hughes Neghaiwi; Editing by Kirsten Donovan)
Nestlé S.A. is the world's leading agri-food group. Net sales break down by category of products as follows:
- powdered and liquid beverages (26.7%): soluble coffees (Nescafé and Starbucks brands), coffee in capsules (Nespresso), chocolate drinks (Nesquik, Milo, etc.), tea drinks (Nestea), etc.;
- pet food (20.3%): brands such as Purina, Friskies, Felix, etc.;
- pharmaceutical, nutrition and well-being products (16.4%): nutritional supplements (Resource, Boost, Nutren, Optifast, Peptamen brands, etc.), infant and maternal nutrition products (NAN, illuma, Cerelac, Nido, Gerber), ketogenic beverages (BrainXpert), (Nesquick, Fitness, Cheerios, Lion, etc.), etc.;
- ready meals and seasoning products (12.5%): frozen and chilled dishes (Lean Cuisine, Hot Pockets and Stouffer's brands), soups (Maggi), etc.;
- dairy products and ice cream (11.8%): powdered milk, sweetened condensed milk, yoghurt and cream desserts, ice cream (Nido, Nesvita, Carnation, La Laitière, Coffee Mate, Nestlé Ice Cream, Dreyers, Häagen-Dazs, Extrême brands, etc.);
- chocolates, sweets and biscuits (8.7%): Kit Kat, Smarties, Cailler, Terrafertil, etc. brands;
- bottled waters (3.6%): Nestlé Pure Life, Vittel, Perrier, S. Pellegrino, etc. brands.
Net sales are distributed geographically as follows: Switzerland (1.2%), France (3.8%), the United Kingdom (3.8%), Germany (2.4%), Europe (12.8%), the United States and Canada (35%), China (5.9%), Asia and Oceania (21.4%) and Latin America (13.7%).