Nestlé Stock News

Nestlé is assessing its options after Russia placed the Swiss food giant's local assets under temporary external administration. The move could pave the way for Kremlin-friendly investors to take control of Nestlé's Russian business, alongside assets linked to Auchan and Leroy Merlin.

Swiss food giant Nestle and French retailer Auchan are scrambling to respond after Russian President Vladimir Putin placed their local businesses under temporary administration, a move that could pave the way for the assets to be seized.

Russia also placed the local businesses of French retailers Auchan and Leroy Merlin under temporary external administration, according to a presidential decree.

Nestle on Friday responded to ​the Kremlin's decision to ‌take control of the Swiss food maker's business ​in Russia, saying ​it was assessing its ⁠options.

Global food and chocolate producer Nestle is increasing its cocoa sourcing in Brazil, where production is growing, and it is ​working with farmers on agricultural techniques that require less fertilizer, according ‌to its CEO, Philipp Navratil.

Nestle is raising prices, reformulating products and cutting items consumers are unwilling to pay more for as it tackles the effects of higher energy, ​freight and raw material costs following the conflict in the Middle East, CEO Philipp ‌Navratil told Reuters on Wednesday.

Nestle will invest 2 billion reais ($392.73 million) in ​its nutrition and health division in Brazil ‌through 2028, including 600 million reais for a new infant formula factory in Minas Gerais ​state, the company said on Thursday.

Nestle will sell its mainstream vitamins, supplements and minerals business to Yellow Wood Partners, the latest move to tighten its portfolio and focus on core categories.