Latest news with #LaurentFreixe
Yahoo
27-05-2025
- Business
- Yahoo
Nestlé takes minority stake in India's Drools Pet Food Private
Nestlé has taken a minority stake in India's Drools Pet Food Private, the Swiss food giant announced on Monday (26 May). Financial terms of the agreement were not disclosed, but Nestlé said in a statement that Drools will remain "strategically as well as operationally" independent. Drools describes itself as India's "first home-grown pet-food brand" as it acknowledged the Nestlé investment on LinkedIn. "This step forward builds on the momentum we've gained since partnering with L Catterton in 2023," Drools added. In 2023, the US-headquartered private-equity firm L Catterton acquired a minority stake in Drools in a deal worth around $60m. "Since our founding in 2010, we've grown into a key player in India's pet-food sector, with a presence in over 40,000 retail outlets and exports to 22 countries," Drools said. "Backed by science-based nutrition, strong retail and e-commerce reach, and robust manufacturing capabilities, we remain deeply committed to delivering quality pet nutrition with love and care," the company added. Drools manufactures dog and cat food, selling the products under its namesake brand, as well as those of Pure Pet and Kitty Yum. The pet food is available at retailers across India, as well as e-commerce channels through Amazon and Bengaluru-headquartered Flipkart. Elsewhere, Nestlé expanded its pet-food production in Hungary in 2023. It opened two new production units at its Purina factory, increasing output by 66%. Nestlé stuck with its full-year outlook in April despite inferring that consumers are stretched and have yet to feel the impact of the group's most recent price rises. Its petcare annual sales were relatively flat in 2024, coming in at SFr18.88bn ($22.8bn) from SFr18.86bn a year earlier. Group sales amounted to SFr91.35bn, down from SFr93bn a year earlier. In terms of the company's overall results, CEO Laurent Freixe refrained from pinpointing an actual organic growth target for the new fiscal year, sticking to language for an improvement over Nestlé's 2.2% pace in 2024. He also said the Swiss giant was aiming for its underlying trading operating profit margin (UTOP) to be 'at or above' 16% as the company plans to 'invest for growth'. "Nestlé takes minority stake in India's Drools Pet Food Private" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
22-05-2025
- Business
- Time of India
Nestle to refocus on core business, CEO says
Swiss food giant Nestle is refocusing on the group's core business after straying into segments like health supplements that "weakened the fabric of the organisation," CEO Laurent Freixe was quoted as saying in the Financial Times on Thursday. Freixe, who took the helm of the company in September, told the newspaper he did not see the merits of slimming down the company's portfolio, except in segments where Nestle was not in a position to win. "I think we should never forget that M&A is not the strategy," he was quoted as saying. In another interview earlier this week, Freixe said Nestle was recovering market share in the U.S. despite concerns stemming from the Trump administration's imposition of tariffs on its key trading partners last month.
Yahoo
22-05-2025
- Business
- Yahoo
Nestle to refocus on core business, says CEO Freixe
STORY: Swiss food giant Nestle will refocus on its core business after diversification into different types of products 'weakened the fabric' of the company. :: File That's according to its boss Laurent Freixe, who took over the company in September. He told the Financial Times that straying into segments like health supplements meant its core brands in coffee, petcare and food were neglected. He said he only saw merits in slimming down the group's portfolio in places where Nestle wasn't in a position to win. In another interview earlier this week, Friexe revealed that Nestle, owner of brands including Nescafe and KitKat, is recovering market share in the U.S. That's despite concerns of impact from President Donald Trump's trade tariffs... ... and American consumers feeling unsettled by a slowdown in the economy. Leading with an attitude that 'M&A is not the strategy', Friexe branded Nestle as 'on the right track.'
RTÉ News
22-05-2025
- Business
- RTÉ News
Nestle to refocus on core business, CEO says
Swiss food giant Nestle is refocusing on the group's core business after straying into segments like health supplements that "weakened the fabric of the organisation," CEO Laurent Freixe was quoted as saying in the Financial Times today. Laurent Freixe, who took the helm of the company in September, told the newspaper he did not see the merits of slimming down the company's portfolio, except in segments where Nestle was not in a position to win. "I think we should never forget that M&A is not the strategy," he was quoted as saying. In another interview earlier this week, Freixe said Nestle was recovering market share in the US despite concerns stemming from the Trump administration's imposition of tariffs on its key trading partners last month.
Time of India
22-05-2025
- Business
- Time of India
Nestle to refocus on core business, CEO says
Swiss food giant Nestle is refocusing on the group's core business after straying into segments like health supplements that "weakened the fabric of the organisation," CEO Laurent Freixe was quoted as saying in the Financial Times on Thursday. Freixe, who took the helm of the company in September, told the newspaper he did not see the merits of slimming down the company's portfolio, except in segments where Nestle was not in a position to win. "I think we should never forget that M&A is not the strategy," he was quoted as saying. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cara Membantu Orang Terkasih Menghadapi Limfoma Limfoma Pelajari Undo In another interview earlier this week, Freixe said Nestle was recovering market share in the U.S. despite concerns stemming from the Trump administration's imposition of tariffs on its key trading partners last month.
