Nestlé has dismissed reports of merger talks with food and beverage giant PepsiCo as “speculation”.
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Nestlé, the world’s largest food company, was reacting this morning (19 July) after a report in the Wall Street Journal today that it had held talks on a deal with PepsiCo.
The WSJ said the two sides met earlier this year but that talks broke down due, in part, to PepsiCo’s “reliance” on soft drinks and snacks.
A Nestlé spokesman in Switzerland initially told just-food that the company “does not comment on newspaper reports” but then described the WSJ article as “speculation”.
The spokesman said Nestlé’s main focus in acquiring business has been on “nutrition”, pointing to the company’s recent purchases of Novartis Medical Nutrition and US baby food brand Gerber.
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By GlobalData“Nestlé’s acquisition strategy has been transparent, clear and well-explained by the CEO, CFO and investor meetings,” he said.
Officials at PepsiCo could not be reached for immediate comment.
