Nestle | featured news

German investor Joh A Benckiser (JAB) is to buy the owner of Douwe Egberts coffee in a 7.5-billion-euro ($9.8 billion) deal to create a global hot drinks empire aimed at taking on market leaders Nestle and Mondelez.

Nestle SA has withdrawn beef pasta meals from sale in Italy and Spain after tests found horse DNA. Horse meat has found its way into ready-to-eat meals sold across Europe in a meat mislabeling scandal that has shaken the food industry.

The Swiss food giant Nestle SA has offered to buy 60% of Chinese snacks and candy company Hsu Fu Chi International for 2.1 billion Singapore dollars ($1.7 billion). The world’s largest food company agreed to pay S$4.35 ($3.56) for each share of Singapore-listed Hsu Fu Chi, an 8.7% premium on Friday’s closing price.

A Nestle plant linked to an outbreak of illness has been shut temporarily, and the company said Monday that it expects to lay off more than 200 workers as a result.

Climate-change heavyweights U.N. chief Ban Ki-moon and Nobel prize winner Al Gore urged more than 500 business leaders on Sunday to lend their corporate muscle to reaching a global deal on reducing greenhouse gases. The CEOs of PepsiCo, Nestle, BP and other major world businesses began meeting in Copenhagen, where politicians will gather in December to negotiate a new U.N.-brokered climate treaty.