Report: Nestle considering sale of PowerBar

VEVEY, SWITZERLAND — Nestle S.A. is weighing a potential sale of its PowerBar energy bar business, according to Reuters. Citing sources familiar with the situation, Reutersreported that the business could fetch several hundred million dollars. Nestle acquired PowerBar in 2000 for an undisclosed price. PowerBar was founded in 1986 as a mail order retailer. The company’s product portfolio now includes energy bars, sports drink mixes and supplements. Nestle has declined to comment on a potential sale, but in an Aug. 8 conference call to discuss first-half results, Wan Ling Martello, chief financial officer, hinted at the possibility the company may divest some businesses. “You’ve heard us talk about more focus in terms of portfolio management and so there will be — we are — timing is difficult to predict, but we are actively looking at our portfolio and what we need to do,” Ms. Martello said. “So there will be restructuring. Whatever it is, we can’t really say what it’s going to be, but there will be some volatility in terms of other expenses and income.”

 

Source:  http://www.bakingbusiness.com

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