Nestle decides to tap inorganic growth to raise market share
Vevey (Switzerland): Nestle, believed to be in race to acquire GlaxoSmithKline's consumer nutrition business including the Horlicks brand, will continue to tap inorganic growth for gaining additional market share, if it finds meaningful opportunities, a top company official said.
However, when asked about reports over Nestle's bid for GlaxoSmithKline's (GSK) nutrition business portfolio, the company declined to comment.
"Acquisitions we have been pursuing everywhere over the years. Its part of our business model of being a growing company and gaining additional market presence. So when there are prudent meaningful opportunities, we are interested," said Nestle CEO Mark Schneider.
Nestle, which has a growth target of "mid single digit in 2020", said it strongly believes in organic growth, and considers this as a 'lifeblood'.
When asked about the development over GSK consumer nutrition business, he said: On those specifics we are not commenting .
On the India business, which is one of the 'key markets' for Nestle, the company said it would continue to lead as a pure play food and beverage company.
"I am a very pleased with how our Indian company has developed very solid leadership, very nice organic growth and when it comes to being a pure play food and beverage company, we are leading in that market and we are proud of that," Schneider said on a media roundtable with the visiting journalists here.