Nestlé SA CEO told analysts that the company has identified a group of under-performing businesses among its 1,800 business "cells" that it will seek to sell, reports
The Wall Street
Journal. Such divestitures represent a major shift in strategy for Nestle, prompted by pressure to improve its financial performance, which has failed to meet expectations in
recent quarters.
Nestle has already sold an Australian ice-cream business and two French water brands, and its PowerBar business ($200 million in annual sales) is also up for sale.
WSJ reports that signs point to the Jenny Craig business being another likely candidate for sell-off.
advertisement
advertisement