July 2021 \ Business & Investment \ BUSINESS
Nestle’s 60 percent food portfolio unhealthy: Report

The world’s largest food company, Nestle ...

The data excludes baby formula, pet food, coffee and the health science division, which makes foods for people with specific medical conditions. This means the data accounts for about half of Nestle’s Swiss Francs 92.6 billion (72.7 billion pound) total annual revenues. The report said the findings come as food-makers contend with a global push to combat obesity and promote healthier eating. Executives at Nestle are considering what new commitments to make on nutrition and are aiming to unveil plans this year. The group is also updating its internal nutrition standards, known as the Nestle Nutritional Foundation, that were introduced under former chief executive Peter Brabeck-Letmathe, who characterized Nestle as a “nutrition, health and wellness company.”

One option could be to drop or replace these standards for products seen as treats, such as confectionery, according to a person familiar with the situation, as per the report. Mark Schneider, chief executive, Nestle, has acknowledged that consumers want a healthier diet but rejected claims that “processed” food including those made by Nestle and other multinationals tend to be unhealthy.