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Nestle mulling domestic acquisitions, to launch more products

Nestle mulling domestic acquisitions, to launch more products
PTI
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First Published: Thu, Jul 01 2010. 03 56 PM IST
Updated: Thu, Jul 01 2010. 03 56 PM IST
Mumbai: Food-maker, Nestle, is mulling acquisitions in India with a view to expand its product-line and plans to launch more products in the coming days, a top company official said.
“We are growing...we plan to acquire one or a couple of companies to expand our product-line in India. This is the right time and we have to invest more here,” Nestle India’s chairman and managing director, Antonio Helio Waszyk, told reporters
However, Waszyk did not give any time-frame for the acquisitions.
“It may happen sooner than later,” was all he said.
Nestle India plans to launch new products including breakfast cereals in the coming days in India.
“It will be one among eight categories which we are looking at. Working women are growing in the country. So we think our packaged food items will get more demand here. We see more opportunities in the Indian market,” Waszyk said.
However, he did not give any timeline for the launch of products.
“We spent the whole week in Switzerland and the entire Nestle management was very supportive about the India opportunity,“ he said, adding “we are very committed to the Indian market as the country’s ecomony is growing fast.”
Nestle India has named Deepika Padukone as its brand ambassador for Nescafe to promote its brand at the global level. The advertisement campaign will startfrom August this year.
On the global market, Waszyk said “around 70 per cent of the global GDP will come from developing and emerging markets which include India.”
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First Published: Thu, Jul 01 2010. 03 56 PM IST
More Topics: Nestle India | FMCG | Chocolates | Food Products | MAs |