Nestle SA remains on the lookout for potential mergers and acquisitions, even as the company and the world deals with uncertainty caused by the coronavirus (COVID-19) pandemic, reports Food Business News.
“We’re working on a number of interesting leads,” said Ulf Mark Schneider, chief executive officer, in an April 24 earnings call to discuss first-quarter results.
Nestle SA in the quarter reported sales of 20.8 billion Swiss francs ($21.3 billion), a decrease of 6% from 22.2 billion Swiss francs in the previous year’s first quarter. Acquisitions net of divestitures reduced sales by 4.7%, largely due to Nestle divesting its US ice cream business along with Nestle Skin Health. Foreign exchange reduced sales by 6%.
