Nestlé to have ‘more vigorous’ year of acquisition in 2020, CEO says
Nestlé counts on a “more vigorous” year of mergers and acquisitions (M&A) for 2020 as the Swiss food giant seeks to expand its business, CEO Mark Schneider said on Friday.
Schneider said in an analyst call that Nestlé records a number of interesting leads in the M&A area, but did not disclosed further details.
Schneider assured that the company will not target companies pushed into financial difficulties from the COVID-19 pandemic, with Nestlé seemingly unaffected by the pandemic.
Nestlé said its overall organic sales grew by 4.3% in the first three months of 2020 as sales boosted in North America and Europe, with Purina PetCare products recording the biggest growth.
The surge in demands were due to people staying at their homes as lockdowns were implemented in different countries. Food delivery services also reported a sales surge.
Schneider, however, said it is “important not to get carried” as the situation remained “highly volatile” across categories and regions.