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ZURICH (AFP) – Nestle denied Thursday that it was applying any “double standard” after an NGO accused the Swiss food giant of selling baby food with high levels of added sugar in low-income countries but not in wealthier nations. “There is no double standard,” the company said in a statement. “We apply the same nutrition, health and wellness principles everywhere.” In a report published last week, Swiss NGO Public Eye said that “two of the […]
ZURICH, Switzerland (AFP) – Swiss food giant Nestle said Monday it was opening a new production site in war-torn Ukraine, and would invest tens of millions in a factory and production network set to employ 1,500 people. “Nestle is announcing the opening a new production site in Ukraine,” the company, which had three facilities in Ukraine before the war broke out, said in a statement. It said that “40 million Swiss francs ($43 million) will be […]
ZURICH, Switzerland (AFP) – Swiss food giant Nestle said Thursday it will pour seven billion riyals ($1.8 billion) into Saudi Arabia over 10 years in a bid to strengthen its presence in the kingdom. The announcement is likely to be a major boost to Riyadh as the kingdom pushes to attract greater foreign investment. Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee for the […]
ZURICH, Switzerland (AFP) — Nestle is offering plant-based alternatives to eggs and shrimp as the Swiss food giant expands its menu in the growing vegan market, the company said Thursday. Nestle, owner of everything from chocolate to coffee and baby food brands, has for several years been reorganising its activities to focus more on health and wellness. The Swiss company has among other things been making a major push in vegetarian and vegan products. Its […]
ZURICH, Switzerland (AFP) — Global food giant Nestle said Monday it was developing a new nutrition strategy after the Financial Times reported on an internal document showing that most of its food and drinks were unhealthy. An internal presentation circulated among top executives earlier this year had revealed that more than 60 percent of Nestle’s mainstream food and drinks portfolio did not meet “recognised definition of health”, the British business daily reported. The presentation, seen […]
NEW YORK, United States (AFP) — Coca-Cola will soon begin selling sodas in completely recycled plastic in the United States for the first time, the beverage giant said Tuesday. The initial items will be introduced this month in a group of states that includes California and Florida, for items such as Coke and Diet Coke in 13.2-ounce bottles made from 100 percent recycled plastic. The company — which has been named a top plastic polluter […]
ZURICH, Switzerland (AFP) — Nespresso maker Nestle on Tuesday said it has sealed a deal to market the products of US coffee giant Starbucks around the world, outside of its cafes. Swiss food giant Nestle, which also produces Nescafe instant coffee, had announced in May it would pay $7.15 billion (6.13 billion euros) for the rights to market Starbucks coffee globally. Under the deal, some 500 Starbucks employees in the United States and Europe will […]
ZURICH, Switzerland (AFP) — Swiss food giant Nestle announced Monday it will pay $7.15 billion for the rights to market Starbucks products around the world, outside of the company’s coffee shops. The agreement gives Nestle, which owns the Nescafe and Nespresso brands, a strong platform for continued growth in North America, the company said in a statement. “This transaction is a significant step for our coffee business, Nestle’s largest high-growth category,” said Nestle CEO Mark […]
GENEVA, Switzerland (AFP) – Nestle said Tuesday it has agreed to sell its US candy business to Italy’s Ferrero for CHF 2.7 billion ($2.8 billion/2.3 billion euros) in cash as the Swiss food giant shakes up its product portfolio. Ferrero, known for its Tic Tac, Nutella and Ferrero Rocher brands but which has traditionally preferred organic growth to acquisitions, will now be picking up Crunch, Butterfinger and Baby Ruth from Nestle. The sale will make Ferrero the third-largest confectionary […]
MILAN, Italy (AFP) — Italy’s Ferrero is closing in on a $2.8-billion deal for Nestle’s US confectionary business, Bloomberg said Wednesday, amid signs a deal could be completed by Sunday. Nestle USA registered sales of some 900 million Swiss francs (828 million euros/$900 million) in 2016, in a market worth an overall $8 billion, according to Ibis World — equivalent to around a fifth of the global market. The firms declined to comment on the […]
KINSHASA, DR Congo (AFP) — Swiss food giant Nestle announced Sunday that it would close its factory in Kinshasa, capital of the Democratic Republic of Congo, a potential market of 80 million people but one beset by poverty and political instability. “We will close our factory and offices by the end of January and continue developing our economic distribution model through third parties,” a spokeswoman for the group told AFP. The decision affects 120 people […]
GENEVA, Switzerland (AFP) — Nestle has said it has discovered a way to cut the amount of sugar that goes into its Kit Kat, Butterfinger and other candy bars, but without affecting the taste. The Swiss food giant’s scientists say a breakthrough will allow the company to cut sugar content by up to 40 percent. Sweetness of chocolate and other confectionery products will be unchanged. “Our scientists have discovered a completely new way to use […]
