Stephanie Nebehay, September 4, 2007, Reuters - Nestlé, the world's largest food group, is looking to extend its bottled water acquisitions to China and elsewhere as it aims for rapid growth, Carlo Donati, CEO of Nestlé Waters, said on Tuesday.
"Our strategy of mergers and acquisitions in future is to integrate our local activities in certain markets or to expand our geographic presence as, for instance, is the case in China, where we have a small base and are looking out for acquisitions," Donati said.
Donati said Nestlé did not aim for major acquisitions in water. Earlier on Tuesday, the company unveiled plans to buy Swiss bottler Henniez in a deal valued at 155 million Swiss francs ($128.3 million).
Separately, Donati said rainy weather this summer had a negative impact on the pace of growth in the water division. Donati was speaking to reporters following a media conference.
"In Europe and North America, weather conditions in July and August were not particularly favourable for the beverage companies and therefore it will have an impact on second half growth for Nestlé waters," he said.
"If it rains, you normally don't serve water," he said.