Nestle sheds US brands in shake-up

Nestlé, the maker of KitKat chocolate bars and Maggi soups, said in October that it would dispose of under-performing businesses to slim down its sprawling portfolio, which ranges from bottled water to baby food.

The global food company has since announced the disposal of the bulk of its Jenny Craig weight-loss business. It also sold a 10 per cent stake in fragrance and flavour maker Givaudan for over one billion Swiss francs.

Brynwood Partners said last month it had acquired the SnackWell’s cookies and snacks business from Mondelez via its portfolio company Back to Nature Foods. Nestle acquired Joseph’s Pasta in 2006.

It also bought Kraft Food’s frozen pizza business in 2010. Frozen foods are a multi-billion dollar business for Nestlé in the US with its Stouffer’s, Lean Cuisine and Hot Pockets brands.

Nestle’s total global sales of frozen and chilled foods amounted to 8.05bn Swiss francs (£5.4bn) in 2012.

In November, it was revealed that around 2,000 jobs for young people were being created by Nestlé, with the confectionary giant’s sites in York and Halifax set to benefit.

More than 600 opportunities will be available over each of the next three years across the UK and Ireland, including 300 paid work experience placements, the company announced.

The programme is part of Nestlé’s European Youth Employment Initiative to help 20,000 people across Europe under the age of 30 find employment by 2016.

Nearly a million people aged 16 to 24 are unemployed in the UK and Ireland’s youth unemployment rate stands at nearly 30 per cent.

Nestlé UK and Ireland CEO Fiona Kendrick said last year: “With youth unemployment steadily rising we all need to play our part in creating opportunities for the next generation. Attracting new talent and investing in future skills is key to our continued success.”