Swiss food and beverages giant Nestle SA appointed Wal-Mart Stores Inc. executive Wan Ling Martello as its chief financial officer, replacing Jim Singh, who will retire next spring.
Fonterra says the first milk from its latest foray into international farming, a major dairy operation planned for Brazil, will be sold to its joint venture with food giant Nestle, Dairy Partners America.
Swiss food giant Nestlé has acquired a 60% stake in Chinese food maker Yinlu Foods Group, expanding its instant food offering in a key growth market as part of a strategy to compensate for more sluggish sales in developed countries.
Nestle China has released an announcement saying its products are "absolutely safe for consumption," in response to earlier reports that cast doubt on the company's infant foods and alleged they contained toxic metals, China Daily reported.
As functional benefits become increasingly important to consumers, manufacturers have been quick to work these claims into their products. Coffee has seen notable development in this area, as it already provides energy through caffeine and offers fertile ground for additional functional claims.
