Dive Brief:
- Nestle, the world's largest food company by sales, is entering more investment-intensive businesses such as dermatology, and is looking to accelerate its sell off of non-core, underperforming brands.
- CEO Paul Bulcke told an investors conference that the company would "not allow problems to drag on" and that Nestle must cuff off the "dead wood."
- Bulcke also reaffirmed Nestle's full-year target of 5% organic sales growth.
Dive Insight:
Nestle has been clear as can be that it wants to sell off units. Nestle has followed up with these types of hints in the past, unloading its PowerBar and Musashi brands less than a month after its sale of Givaudan. It has been speculated that the Davigel frozen foods business is next.