|Bid||135.50 x 0|
|Ask||135.60 x 0|
|Day's Range||135.50 - 137.10|
|52 Week Range||120.20 - 147.40|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||50.96|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Nestle is aiming to boost organic sales growth towards 4% this year, the food giant said on Thursday, after strong demand for pet food and health products in the Americas helped its growth outshine peers last year. Consumers have kept buying packaged food throughout the pandemic and the maker of Maggi soups and Nescafe instant coffee has fared better than some rivals by shedding underperforming businesses and investing in growth areas such as plant-based food, coffee and health science. "We're seeing continued improvement in organic growth for the third year in a row now," CEO Mark Schneider told reporters on a call.
Nestle (OTC: NSRGY) announced on Tuesday that it is selling its North American water business to One Rock Capital Partners and Metropoulos & Co. for $4.3 billion. Brands being shed in the sale include Poland Spring, Deer Park, Ozarka, and Pure Life, along with four others. The consumer packaged-goods giant announced last summer it was embarking on a strategic review of its water business while recommitting to the global premium-water portfolio.
Nestlé (PINK: NSRGY) has announced the sale of its Nestlé Waters North America brands for $4.3 billion to the partnership of One Rock Capital Partners and Metropoulos & Co. What Happened:. The sale includes the U.S. and Canadian brands for Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead, Pure Life and Splash, along with the bottling facilities for the brands and the U.S. direct-to-consumer and office beverage delivery service ReadyRefresh. The company's international brands, including Perrier, S.Pellegrino and Acqua Panna, are not a part of the deal. What Happens Next: Nestlé Waters North America is based in Stamford, Connecticut. The Swiss-headquartered parent company did not announce whether the sale would result in workforce changes, but it reaffirmed its goal of making its entire water portfolio carbon neutral by 2025. "We continue to transform our global waters business to best position it for long-term profitable growth," said Nestlé CEO Mark Schneider. "This sale enables us to create a more focused business around our international premium brands, local natural mineral waters and high-quality healthy hydration products. We will also boost our innovation and business development efforts to capture emerging consumer trends, such as functional water." Photo courtesy Nestlé Waters North America. See more from BenzingaClick here for options trades from BenzingaNestlé To Roll Out Vegan Version Of KitKat Chocolate Bar© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.