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Peter Brabeck, CEO of the world’s largest food group Nestlé, has stressed that there is no truth in the industry rumours that Nestlé is mulling a takeover bid for Dutch functional food company Koninklijke Numico. The rumours were prompted on 14 May when Numico CEO Hans van der Wielen commented that the company could become a takeover target after its recent stock price fall.

Brabeck explained that “at first glance my reaction would be limited” to acquire Numico, because “we are not in the retail business – and a big part of Numico is in the retail business – and we don’t want to be in the retail business, definitely not.”

He added that if a deal was made, the anti-trust issues would be extensive: “You know very well that in some parts there are very strong competitors. Therefore I cannot see how this is something which will go above being a theoretical interest.”