Nestle S.A. is considering a potential sale of its controlling stake in two Chinese brands, according to Bloomberg.
The brands, Hsu Fu Chi, a local confectionery brand, and Yinlu, a beverage producer, were acquired by Nestle in 2011 as part of the Swiss company’s effort to expand in China. At that time, Nestle paid approximately $1.7 billion for a 60% stake in Hsu Fu Chi and $1.5 billion for a 50% interest in Yinlu (Nestle eventually acquired all of Yinlu in 2018).
Sources have told Bloomberg that Nestle now wants to sell its controlling stake in the two companies for more than $1 billion.
Nestle has shed numerous businesses since Ulf Mark Schneider took over as chief executive officer in 2017, including the company’s 2018 sale of its U.S. confectionery business to Ferrero Group.
By Eric Schroeder
Source: Food Business News
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
