I love Nestle chairman Peter Brabeck-Letmathe. Nestle does not give quarterly earnings “guidance,” but when you travel the world their products are always there. Nestle is not listed on the NY stock exchange, but Americans can buy the stock on the pink sheets in an active market. Nestle does not want to bother with the onerous reporting for US listed companies.
Peter is absolutely right, but he neglects to point out that the Africans were doing pretty well and were increasing food production until the respective States started to confiscate the land and “redistribute” the wealth.
It's a tremendous Swiss-based conglomerate - the largest food company in the world and one of the most admired, with more than 230,000 employees in nearly 500 locations worldwide, high quality diversified food and pharmacological products and great IT technology behind it that took them several years to fully implement.
"Six worldwide corporate brands, Nestlé, Nescafe, Nestea, Maggi, Buitoni and Friskies contributed about 70% of the company's total sales, with the Nestlé brand itself contributing 40%. In addition to these brands, the Company has a broad portfolio of brands including Libby's fruit juices, Perrier water, San Pellegrino water, Arrowhead water, Osarka water, Alpo pet food, Ortega Mexican foods, PowerBar energy bars, Stouffer's prepared foods, Lean Cuisine prepared foods, DiGiorno pizza, Carnation beverages, Ovaltine beverages, Dreyer's ice cream, Haagen-Dazs ice cream, Gerber baby food, Butterfinger and Baby Ruth candies, Kit Kat chocolate bars..."