Nestlé

Nestle and Starbucks on Monday announced a global marketing deal, in which the Swiss food and drink giant will market the coffee company’s consumer and foodservice products. The deal gives […]

Swiss food group Nestle said on Friday it planned to cut as many as 400 jobs in France in support services and HQ functions, as it sees to cut cost and boost efficiency, confirming a media report.

The Swiss food company announced the plan in a meeting with labour leaders, according to Daniel Loget, secretary of the worker’s consultation committee at Nestle Purina in Paris, and Patrick Fernand, a representative from the CGT union.

Nestlé Chief Executive Officer Mark Schneider made his biggest acquisition yet, agreeing to buy Canadian dietary supplements maker Atrium Innovations for $2.3 billion in a bid for growth beyond stagnating mainstream food brands.

The world’s biggest food company is acquiring Westmount, Quebec-based Atrium from an investor group led by Permira Funds, Nestlé said in a statement Tuesday. The Swiss owner of Nespresso and Lean Cuisine is paying cash for the Garden of Life supplement maker, whose 2017 sales are expected to approach $700 million.

Nestlé is investing 54 million Swiss francs ($55 million) to construct a new factory in Cuba, which will employ 260 people by its third year, it said Wednesday.

The Swiss company said that the site will produce its coffee brand Nescafe, Cuban coffee Serrano, Nestle Fitness cereal snacks, powdered beverage Nesquick and Maggi-brand cooking aids.

Nestlé, the world’s largest food maker, reported an increase in real internal growth for the first nine months of the year but expects its trading operating profit margin to drop 40-60 basis points due to higher restructuring costs. The Swiss company said net divestments had a negative impact of 2.6% due to the creation of the Froneri joint venture.

The Swiss consumer giant said Thursday it struggled in its largest market, the U.S., where it is trying to sell its confectionery business. Elsewhere, its ability to raise prices was limited by weaker currencies in some emerging markets.

Food giant Nestle on Tuesday set a formal margin target and confirmed it wants to return to mid-single-digit organic sales growth by 2020.

“The company will detail how it will reach its mid-single digit organic growth target by 2020, and will announce an underlying trading operating profit margin target of 17.5-18.5 percent by 2020,” the Swiss maker of KitKat chocolate bars and Nespresso portioned coffee said ahead of a highly anticipated investor seminar, the first time its new chief executive will lay out his strategy for Europe’s largest company.

Nestle India on Wednesday said it has inaugurated the first Nestle Food Safety Institute (NFSI) in the country at its Research and Development (R&D) Centre in Manesar to develop a collaborative approach towards ensuring safe food.

According to the company, NFSI India, an integral part of Nestle R&D Centre India will work closely with the Nestle Research Center in Lausanne, Switzerland.

Global dividends hit an all-time quarterly record of $447.5 billion (€380.5 billion) in the second quarter of this year as growth accelerated to the fastest rate since 2015, according to new data.

The Janus Henderson Global Dividend Index revealed that the amount paid out in dividends globally increased 5.4% year-on-year on a headline basis – equivalent to an underlying rise of 7.2% once exchange rates, special dividends and other factors were taken into account. The asset manager raised its dividend forecast for the whole of 2017 to $1.208 trillion, up $50 billion since an initial forecast in January, following evidence of “more synchronised” global economic growth, an oil price rally and a revival in banking sector payouts.