Word: nestling
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...after nearly four years of retrenchment, Nestlé (1983 sales: $12.7 billion) is once again hungry to add American names to its list of bestselling brands, which includes Nescafé, Quik, Nestea and L'Oréal. In January, Nestlé acquired Ward-Johnston, the candy company that produces such matinee munchies as Raisinets, Goobers and Sno-Caps, and in April it signed an agreement to buy Hills Bros, coffee. Last week the company announced plans to purchase Los Angeles-based Carnation, the leading maker of evaporated milk, for about $3 billion, or $83 a share. The deal will...
...left his post as Carnation president, reportedly after a falling-out with Chairman H. Everett Olson, 77. Stuart, who controls as much as 20% of the firm, then decided to start unloading his stock. Rumors began spreading on Wall Street that Carnation was for sale, and by late July, Nestlé Managing Director Helmut Maucher came along with a friendly takeover offer. Meanwhile, investors ran up the price of Carnation stock from about 65 in July to 75½ by the time the deal was announced...
Like many other European companies, Nestlé is looking for acquisitions in the U.S. because that is where the fastest, surest economic growth is now taking place. Last January, Nestlé burnished its public image in the U.S. by settling a 6½-year-old consumer boycott prompted by the company's marketing of infant formula in developing countries...
...Nestlé has encountered some obstacles during its current spending spree. In July the Federal Trade Commission blocked the Swiss firm's $515 million takeover of CooperVision, a California contact-lens company. Reason: Nestlé already sells certain types of eye-care supplies through a Fort Worth subsidiary, Alcon Laboratories. There has been speculation that the FTC might oppose the creation of a food combine the size of Nestlé and Carnation. Experts close to the deal, however, expect little difficulty because the companies do not have significant competing products. Nestlé sells no milk...
...Nestlé-Carnation deal continues a streak of mergers in the competitive food industry. Last month Chicago's Beatrice (Tropicana, La Choy) bought Esmark (Swift, Peter Pan) for $2.8 billion. Two weeks ago, Ralston Purina agreed to acquire ITT's Continental Baking division for $475 million. One reason for the takeovers is that business has turned sluggish as a result of the slowdown in U.S. population growth. Thus the easiest way for food companies to grow is to take over other firms. And as the Carnation purchase indicated, cows that are too contented may find themselves...