Bloomberg News

Nestle Plans to Invest 1.2 Billion Francs in Africa in 2010-15

July 05, 2011

July 5 (Bloomberg) -- Nestle SA, the world’s largest food company, will spend 1.2 billion Swiss francs ($1.42 billion) in Africa by 2015 on building new factories and expanding existing ones as sales growth on the continent outpaces that of Europe and North America.

Nestle is targeting “strong” double-digit growth in Africa, which generated $3.5 billion in revenue last year, or about 3 percent of the group’s total, Executive Vice President Frits van Dijk said in an interview today in Nairobi, the Kenyan capital.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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