Deals
Nestle Cuts the Meat in Bid to Build Healthier Food Giant
- Swiss food company considers sale of Herta lunch-meat business
- CEO Schneider plans more deals after $14 billion in 2018
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Nestle SA put its ailing Herta lunch-meat business up for sale as Chief Executive Officer Mark Schneider tries to spur sales growth at the world’s largest food company through acquisitions and divestments.
The Swiss company’s shares rose as much as 3.7 percent to a record as it forecast improved sales and said that it expects to cede control of its dermatology unit by the middle of this year. After 14 billion francs ($14 billion) of deals in 2018, there’s no sign Schneider will stop nipping and tucking in his third year on the job.