SWITZ: Nestlé hunts down China purchases

By | 4 September 2007

Nestlé is looking to up its presence in the Chinese water market.

The food and drinks giant, which counts Perrier and Vittel among its drinks brands, is hoping to extend its footprint in China through purchases, according to the CEO of Nestlé Waters, Carlo Donati.

Speaking to Reuters today (4 September), Donati said: ""Our strategy of mergers and acquisitions in future is to integrate our local activities in certain markets or to expand our geographic presence as, for instance, is the case in China, where we have a small base and are looking out for acquisitions."

Donati made the comments at the sidelines of a press conference unveiling Nestle's acquisition of a majority stake in Switzerland's Sources Minérales Henniez.

Nestle has bought a 61.66% stake in the water firm from the Rouge family for CHF155m (US$128.1m). Nestle will follow the purchase with a public offering of CHF5,303 per share for the remainder of the company.

Sectors: Soft drinks, Water

Companies: Perrier, Vittel, Nestlé Waters, Nestle

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