Peter Brabeck-Letmathe, chairman of the board at Swiss Nestlé, has said his company has to deal with its portfolio faster, in order to fight off its competitors. Nestlé faces increased competition from recent mergers like Kraft Heinz.
Competitors are growing
Nestlé has been reshuffling its portfolio for a while: it sold off PowerBar and a large portion of Jenny Craig, while it is also finalizing the sale of frozen products brand Davigel frozen to the Bakes Group.
While Nestlé sells off its food and drink brands, its competitors keep growing: Kraft Foods and Heinz have merged into the third largest North American food company, while Mondelez and D.E. Master Blenders 1753 joined their coffee divisions to form the second largest coffee manufacturer worldwide.