Nestlé Hints At Ditching Underperforming Brands
Published on Oct 2 2013 7:08 AM in A-Brands
Nestlé is getting closer to disposing of some its underperforming brands in a bid to shake up its portfolio.
Paul Bulcke, the chief executive, told investors Nestle had drawn up lists of businesses that could be fixed and those that could not.
"Divestitures, we're going to have some," Mr Bulcke said. "We want to be in business, not in agony."
"The shortlists are there and now the action has to come. The timelines have to be wise, but action will come," he told a presentation to investors, stressing that managing the portfolio was a top priority.
Without identifying specific brands, Mr Bulcke said some had been "sailing under the radar screen for too long without being part of the party".
Suggesting the process is already under way, sources told Reuters last week that Nestle's PowerBar energy bars were up for sale.