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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé S.A.    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
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Nestle S A : Nestlé agrees to sell Yinlu peanut milk and canned rice porridge businesses to Food Wise Co., Ltd.

11/25/2020 | 01:15am EST


Vevey, November 25, 2020

 

Nestlé agrees to sell Yinlu peanut milk and canned rice porridge businesses to Food Wise Co., Ltd.

Nestlé today announced that it has agreed to sell its Yinlu peanut milk and canned rice porridge businesses in China to Food Wise Co., Ltd. The deal covers all of Yinlu's operations, including its five factories in Fujian, Anhui, Hubei, Shandong and Sichuan. Yinlu brands had sales of CHF 700 million in 2019. Both parties have agreed not to disclose the financial terms of the transaction.

Food Wise Co., Ltd., a company controlled by the family of Yinlu founder Chen Qingshui, is well-positioned to enable a smooth transition and ensure the long-term success of that business.

The transaction allows Nestlé to focus on key categories in China: infant nutrition, confectionery, coffee, culinary, dairy and petcare, capitalizing on the company's strong brands, digital capabilities and innovation engine to drive growth.

As part of the transaction, Nestlé will retain its ready-to-drink (RTD) Nescafé coffee business and distribute the products across most of the Greater China Region. Nescafé is a strategic growth driver for Nestlé, and the company continues to invest to further strengthen the brand across all channels in the market. The entire Nescafé business in China will be managed by one team, using synergies and strengthening capabilities that will help drive further growth in the business.

Yinlu will continue to manufacture the Nescafé RTD products for Nestlé and will distribute the products in several provinces. Yinlu will continue to manufacture and sell Nestea products under license from Nestlé.

Nestlé is fully committed to the Greater China Region, which offers significant growth opportunities. The Greater China Region is the second largest Nestlé market globally with sales of nearly CHF 7 billion in 2019. Nestlé has invested about CHF 800 million there during the last five years.

The transaction is expected to close by the end of this year.

<hr />

 

Contacts:

Media:
Christoph Meier Tel.: +41 21 924 2200
mediarelations@nestle.com

Nancy He Tel.: +86 10 8434 7656
nancy.he@cn.nestle.com

Investors:
Luca Borlini Tel.: +41 21 924 3509
ir@nestle.com


© OMX, source OMX

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Financials
Sales 2020 84 954 M 95 352 M 95 352 M
Net income 2020 11 769 M 13 210 M 13 210 M
Net Debt 2020 30 353 M 34 069 M 34 069 M
P/E ratio 2020 24,7x
Yield 2020 2,70%
Capitalization 282 B 317 B 317 B
EV / Sales 2020 3,68x
EV / Sales 2021 3,67x
Nbr of Employees 291 000
Free-Float 93,5%
Chart NESTLÉ S.A.
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Nestlé S.A. Technical Analysis Chart | NESN | CH0038863350 | MarketScreener
Technical analysis trends NESTLÉ S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 115,94 CHF
Last Close Price 101,26 CHF
Spread / Highest target 28,4%
Spread / Average Target 14,5%
Spread / Lowest Target -7,17%
EPS Revisions
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NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Head-Operations & Executive Vice President
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer & Executive VP
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