Breaking News

Nestle To Sell Givaudan

December 6, 2013

Is L'Oréal next?

Nestlé will sell its 10% stake in Givaudan, the Swiss fragrance and flavors supplier, the company announced today. The sale is being handled by Goldman Sachs and is expected to fetch as much as $1.2 billion.

Last month, Nestlé sold its weight management business Jenny Craig in North America and Oceania to a US-based private equity group North Castle Partners. The Jenny Craig business in France was not part of the transaction. Nestlé is also said to be looking for a buyer of its Power Bar business.

The moves are all part of Nestlé's strategy to focus on its core food business. The world's biggest food group cut its sales outlook earlier this year and said it would dispose of underperforming businesses to slim down its sprawling portfolio which spans Perrier bottled water, KitKat chocolate and Gerber baby food.

"Nestle is confirming its intention of better allocating its capital," said Vontobel analyst Jean-Pilippe Bertschy.

But does that plan include L'Oréal? Observers have speculated for months that Nestlé will sell its 30% stake in the world's largest cosmetics company as early as April 2014, when restrictions on selling the company loosen.

Related End-User Markets:

blog comments powered by Disqus
  • A Facial Bar Grows in Brooklyn

    A Facial Bar Grows in Brooklyn

    Christine Esposito, Associate Editor||October 24, 2016
    With three doors in Canada, Blitz Facial Bar opens its first US location in one of the hippest areas of New York.

  • Let the Magic Begin!

    Let the Magic Begin!

    Tom Branna, Editorial Director||October 10, 2016
    IFSCC Congress gets underway at Walt Disney World this month.

  • Ogee Opens for Business

    Ogee Opens for Business

    Christine Esposito, Associate Editor||October 10, 2016
    Banking on the power of jojoba oil, a Vermont-based start-up is the newest player in organic luxury skin care.

  • Skin Care of One’s Own

    Skin Care of One’s Own

    Christine Esposito, Associate Editor||October 3, 2016
    Nu Skin’s ageLOC Me—which melds the worlds of smart-phone technology, efficacious ingredients and personalization

  • Proof Positive

    Proof Positive

    Christine Esposito, Associate Editor||October 3, 2016
    Testing service providers enable companies to back up their claims and stay in compliance with regulations.

  • Change Is in the Air

    Change Is in the Air

    Doreen Wang, BrandZ ||October 3, 2016
    Technology is changing the personal care market