July 20, 2017 / 12:05 PM / a year ago

Nestle CEO doesn't rule out larger buys in health ops: Manager Magazin

BERLIN (Reuters) - Nestle (NESN.S) Chief Executive Mark Schneider does not rule out larger acquisitions in health-science operations to prop up sales, according to Germany’s Manager Magazin.

“I am not ruling this out,” Schneider said when asked whether plans to raise sales of the health-science division to 10 billion Swiss Francs ($10.41 billion) from 2 billion required bigger purchases. “But we are acting prudently.”

The company is on track to meet its 2-to-4 percent sales growth target and wants to grow in a medium single-digit range from 2020 in organic terms, Schneider said in an interview published on Thursday.

On calls by activist investor Daniel Loeb to sell a stake in L’Oreal (OREP.PA), the CEO said: “Nestle has performed exceptionally well with its engagement in L’Oreal for more than 40 years. I have nothing to add to this.”

Separately, Schneider said the company has no plans to spin off slower-growing businesses outside its four defined growth areas.

Reporting by Andreas Cremer; editing by Jason Neely

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