Factbox: Nestle CEO Schneider's top deals
(Reuters) - Nestle Chief Executive Mark Schneider has made great strides in positioning the world's largest food company for the future with his aggressive deal-making since taking over in January 2017.
The 54-year-old German-American has set a vision on selling premium products in fast-growing categories such as pet food and coffee while disposing of businesses in slower-growth areas such as chocolate and processed meat.
Schneider promised to replace as much as 10% of Nestle's existing portfolio by the end of 2020 and has conducted more than 50 transactions and reviews since he took the helm. (https://reut.rs/34b1H2z)
In October Schneider indicated he would not stop at the 10% target, describing the portfolio review as an "ongoing process".
Below is a summary of the top deals under Schneider's tenure:
2020:
* January - Nestle expands its medical nutrition portfolio with the acquisition of Zenpep from Allergan. Zenpep is a medication for people who have a pancreas that is unable to provide sufficient enzymes to properly digest fats, proteins and sugars.
* February - Nestle's health science arm invests an additional $200 million in Aimmune Therapeutics after the drugmaker won U.S. approval for its peanut allergy therapy.
2019:
* May - Sells its skin health unit, maker of the Cetaphil and Proactiv skincare brands, to private equity firm EQT Partners for 10.2 billion Swiss francs ($10.1 billion). The business accounted for about 3% of group sales.
* December - Agrees a $4 billion sale to Froneri of its U.S. ice-cream business, which includes Haagen-Daazs. Froneri is Nestle's ice-cream joint venture with private equity firm PAI Partners.
* December - Nestle agrees to sell a majority stake in its packaged meat business, Herta, to family-run Spanish company Casa Tarradellas to create a joint venture in which it would hold a 40% stake.
2018:
* January - Sells its U.S. confectionary business to Ferrero for $2.8 billion, handing over control of brands Butterfinger, Crunch and Baby Ruth to the Italian manufacturer. The deal marked Schneider's first big sale, underlining the shift in focus towards healthier products. (https://reut.rs/2snYMX2)
* May - Strikes $7.2 billion licensing deal https://uk.reuters.com/article/us-starbucks-m-a-nestle/nestle-and-starbucks-strike-7-15-billion-coffee-licensing-deal-idUKKBN1I80CG with Starbucks for exclusive rights to sell the U.S. chain’s packaged coffees and teas around the world, tying a premium brand to Nestle’s global distribution muscle's. The contract includes Starbucks-branded capsules for Nestle's Nespresso and Dolce Gusto single-serve brewers.
* September - Sells its Gerber Life Insurance business https://www.reuters.com/article/us-nestle-divestiture/nestle-to-sell-gerber-life-insurance-unit-for-1-55-billion-idUSKCN1LX2FP to Western and Southern Financial Group for $1.55 billion in cash. The insurer, which sold life cover for families and juveniles, had sales of $856 million in 2017, equating ot less than 1% of group sales that year.
2017:
* September - Nestle acquires majority interest in California-based coffee roaster Blue Bottle Coffee https://www.reuters.com/article/us-bluebottle-m-a-nestle/nestle-to-brew-high-end-coffee-with-blue-bottle-buy-idUSKCN1BP2D7, its first step into the fast-growing, super-premium coffee shop segment.
* September - Agrees to buy California-based Sweet Earth https://www.reuters.com/article/nestle-ma/nestle-to-buy-sweet-earth-vegetarian-foods-idUSASB0BIFL, the plant-based foods manufacturer behind the Awesome burger, for an undisclosed sum.
* December - Signs a $2.3 billion deal https://www.reuters.com/article/us-nestle-m-a-atrium/nestle-to-buy-vitamin-maker-atrium-innovations-for-2-3-billion-idUSKBN1DZ2EK to buy privately held Atrium Innovations, a Canadian vitamin maker, from a group of investors led by Permira Funds. The cash deal gives Nestle exposure to the consumer healthcare category.
(Compiled by Siddharth Cavale and Nivedita Balu in Bengaluru; Editing by David Goodman)
