Word: nestling
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Dates: during 1960-1969
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...Cherchez Pétranger," suspicion immediately falls on Unilever, the Anglo-Dutch giant whose own bid for Sapiem has been rejected after the French government persuaded Sapiem to resist any foreign liaisons. Unilever emphatically denies raiding Perrier, and so do other potential foreign rivals, notably Switzerland's Nestlé and the U.S.'s KraftCo, which are also reputed to have eyes on France's dairy industry...
With 1967 sales estimated at $735 million, Brown, Boveri is Switzerland's second largest company (after Nestlé), and it took the orders as a long-sought U.S. show of confidence. Brown, Boveri is hardly a household name; yet B.B.C., as it is known, has long generated wide respect for its heavy electrical equipment. Brown, Boveri's parent plant in Baden, near Zurich, depends on exports for 73% of its $146 million sales, which in turn are only a fraction of the company's global business. It has 17 manufacturing subsidiaries worldwide: 76,000 employees...
Frozen foods by Nestlé may come as a surprise to Americans who associate the company with chocolate bars and Nescafé. Since World War II, however, Nestlé has become much more than that. Thanks to its Swiss base, Nestlé emerged from the war with comfortable cash reserves-and a new outlook. "Up till then," says Managing Director Jean C. Corthesy, "we had thought mainly of children. Now we think about their parents...
Shooting for the parent trade, Nestlé in 1947 bought Maggi, a Swiss company with a $100 million-a-year line of soups and seasonings. In 1960, Nestlé's bosses laid out another $27 million for England's venerable Crosse & Blackwell Ltd., with its 26 soups, preserves, pickles and puddings. Last year the company picked up Italy's Locatelli, which produces cheese, tomato products and meats. Today, Nestlé markets everything from soup to nuts, has 75,000 employees and 180 factories in 34 countries. With annual sales of $1.5 billion, it is the world...
...Decent Reticence. Since 1875, when a group of his farsighted neighbors bought up the small Vevey factory in which Henri Nestlé had been producing milk pap for babies, Nestlé has consistently been characterized by a rare combination of imaginative salesmanship and financial caution. With uninhibited confidence, Nestlé has made a success of peddling canned milk in dairy-rich Denmark and instant coffee in Brazil. Most of the company's earnings are poured back into expansion: its 70,000 shareholders, many of them Swiss farmers, get only a 1.2% annual dividend and equally meager information on Nestl...