The food giant, Nestlé, is continuing its strategy of acquisitions and sell-offs in a bid to concentrate on its core activities.This content was published on August 2, 2000 - 10:51
The Vevey-based company has bought two mineral water companies in South Africa, and sold off three factories in the United States making frozen potato products.
The buyer of the three US plants, which have an annual turnover of $300 million, is JR Simplot Company. Nestlé declined to give details of the sale, which is subject to the approval of the US regulatory authorities.
No financial details were given for the purchase of the Valvita and Schoonspruit mineral water companies in South Africa. The two brands together account for more than 20 per cent of the country's market for bottled water, which is expanding by more than 30 per cent a year from a low base.
South Africans' annual consumption of bottled water stands at around 1.5 litres per head. That compares with 150 litres in France or Italy.
Under its strategic concentration policy, Nestlé has so far this year bought the Cargill's pet-food business in Argentina, PowerBar snacks in the US and Kraft soups in Mexico.
It has sold its cocoa processing plants in Italy and Malaysia, its Italian cold meats business, Vismara, and various frozen food companies across Europe.
swissinfo with agencies
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