Word: nestles
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Dates: during 2002-2002
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...Nightmare Does Nestlé know it's Christmas? The Swiss food behemoth (net profit last year: $4.69 billion) decided to pursue a $6 million claim against the government of Ethiopia for a 27-year-old suit, at a time of year when people are supposed to be focusing on the less fortunate. Company spokesman François Perroud found himself facing irate BBC Radio 4 presenter John Humphrys: "You're going to get this money whether people starve or not." Replied Perroud: "I can't quite understand your hostility." Humphrys: "There are starving people in Ethiopia, that's where...
FOOD Telling Buyers to Kiss Off There's trouble in chocolate town, and it's turning nastier than a pack of Oompa Loompas gone bad. Hershey, the largest U.S. confectioner, is for sale. Switzerland's Nestlé would like to buy it - and leap from 7% of the U.S. market to 38%. The sale would reverse the common pattern of a beloved European firm being snapped up by a rapacious American rival. Founded by Milton Hershey in 1894, the company educated orphans and built an eponymous town; the charitable trust that owns Hershey still educates 1,200 children...
...Swiss Chef Nestlé, the world's largest food company, has taken another bite out of the U.S. market. The Swiss giant acquired frozen-snack maker Chef America for $2.6 billion...
INDICATORS But Are They Fattening? The European Commission gave clearance to French cosmetic company L'Oréal and Swiss food giant Nestlé to market food products designed to improve the appearance of hair, nails and skin. The beauty snacks could hit the shelves as early as next year. What's next, nail polish that can cure the common cold...
Minichiello of Spin-off Advisors says carve-outs enable parent companies to establish a division's market value, a particularly useful exercise if they plan to bail out of it altogether in a few years. Nestlé insists that it has no plans to sever all ties to Alcon, though analysts still expect the food giant to untether the eye-care group eventually. As for Deutsche Telekom, it won't be Europe's first long-distance operator to unload a wireless unit. British Telecom last year spun off mm02, and France Telcom floated a piece of its Orange mobile unit...