Nestle SA

Food giant Nestle said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.

Swiss food giant Nestle reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled anything from Purina pet food to Nescafe coffee to frozen meals in preparation for coronavirus lockdowns.

Nestle <NESN.S> expects a "more vigorous" year for acquisitions in 2020 as the packaged food giant looks to expand its business, Chief Executive Mark Schneider said on Friday.

Nestle Chief Executive Mark Schneider warned on Friday against reading too much into the company's first-quarter results, which marked its best quarterly growth for nearly five years as customers stockpiled food to deal with coronavirus shutdowns.

The Swiss blue-chip SMI was seen opening 1.0% lower at 9,534 points on Friday, according to premarket indications by bank Julius Baer

Nestle reported a 4.3% rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Poland Spring water to prepare for lockdowns caused by the coronavirus pandemic.

Nestle <NESN.S> on Friday confirmed its 2019 dividend proposal of 2.70 Swiss francs per share even as the pandemic caused by the new coronavirus upends planned shareholder payouts.

Nestle bought London-based Lily's Kitchen that makes food for dogs and cats in the higher-priced segment, the Swiss group said on Wednesday, as it bulks up in pet food, its fastest-growing product category.

Nestle's Purina PetCare division has acquired London-based Lily's Kitchen, which makes premium wet and dry natural foods for dogs and cats, the Swiss group said on Wednesday, boosting its fastest-growing product category.

Nestle <NESN.S>, the world's biggest food company, said it would pay full salaries for at least three months to employees affected by work stoppages to prevent the spread of coronavirus.

Nestle, the world's biggest food company, says it has made significant progress removing cocoa produced in protected forests in West Africa from its supply chain as pressure builds from consumers and governments for ethically sourced cocoa.

Nestle, the world's biggest food company, said it would pay full salaries to employees affected by work stoppages for a minimum of three months, to protect them from the fallout of the coronavirus pandemic.

Food giant Nestle <NESN.S> said in its annual report published on Tuesday it was continuously monitoring returns and strategic options for its stake in French cosmetics firm L'Oreal <OREP.PA>.

Food giant Nestle <NESN.S> told employees to prepare for difficult times ahead and make all the necessary efforts to supply customers with the food and beverages they need, Chief Executive Mark Schneider said in a memorandum seen by Reuters.

The British government is hiring former Nestle <NESN.S> executive Chris Tyas to oversee a "war room" set up to ensure the country's food security as the coronavirus crisis deepens, Sky News reported on Saturday.

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Food giant Nestle <NESN.S> has mandated JPMorgan Chase & Co. to handle the sale of its struggling Chinese peanut milk business Yinlu that could be valued at about $1 billion, Bloomberg reported on Tuesday, citing sources familiar with the matter.

Nestle SA is launching a reforestation project to plant at least 3 million trees in Mexico and Brazil in the next year and a half as the Swiss food group strives for carbon neutrality by 2050, executives told Reuters.

Nestle SA <NESN.S> has asked its staff to halt international travel for business purposes through March 15 as a precautionary measure amid the rapid spread of the coronavirus globally, the Swiss company said on Wednesday.