In November, Nestlé sold the bulk of its Jenny Craig weight-loss business and sources familiar with the matter have told Reuters that Nestlé is looking for a buyer for its PowerBar energy bars.
Nestlé acquired the stake in Givaudan, one of its suppliers, 11 years ago as part of a deal to sell Givaudan its food ingredient company FIS for 750 million francs in cash and stock. The move was also strategic, in helping to prevent a takeover of Givaudan, which was founded in the late 19th century and spun off from Swiss pharmaceuticals group Roche in 2000.
At the end of November, Nestlé was the second biggest shareholder in Givaudan, with a 10.03% stake. US billionaire Bill Gates is the top shareholder with 10.3%.
Source: WSJ/Reuters
© FoodBev Media Ltd 2024