Nestle sets out product priorities in €9bn revamp

Nestle plans to switch in or out of businesses with combined sales of almost 10bn Swiss francs (€8.7bn) as chief executive Mark Schneider focuses on coffee, bottled water, and pet care to prioritise profitability over scale.

Selective acquisitions and divestments could affect about 10% of total revenue, Mr Schneider said, as he unveiled his new strategy to investors at a conference in London. Nestle is already trying to sell its US chocolate business, its first major retreat from sugary snacks, as the Nescafe maker embarks on its biggest revamp in at least a decade.

“We’ll need to trade out of some product areas and into others,” Mr Schneider said. “We’ll act decisively, and the US confectionery is a good example of that.”