Swiss food giant plans to diversify business by selling division.
Rainforest Action Network says major brands bought the oil from a plantation endangering orangutans.
The food and beverage industry is under pressure from consumers and governments to make healthier products.
Nestlé is jumping on the plant-based meat bandwagon, with plans to launch its own version of the meat-free burger in the US this fall.
Nestle says the deal is subject to employee consultations and will give details on what it plans to do with the proceeds.
Nestle and Unilever are attracting the consumer markets, despite selling goods at higher prices.
Nestle’s announcement comes a day after Burger King said it will start a test run of meatless burgers in the US.
Nestle is launching a new type of ruby Kitkat in Japan that contains dried cranberries and nuts.
Nestle is gearing up for its biggest push yet into the booming vegan market with its Incredible Burger, made of soy and wheat protein.
Nestle's organic sales, which strip out currency swings and acquisitions, rose 2.9% in the third quarter, in line with forecasts.
Lactalis was at the centre of an earlier health crisis when a salmonella outbreak at a Lactalis milk factory last year led to dozens of babies falling ill.
Nestle agreed to sell its Gerber Life Insurance business for US$1.55 billion, while sources told Reuters it was also bidding for GlaxoSmithKline's Horlicks drink.
Some things never change.
Nestle SA has joined the trend for personalised nutrition with a blend of artificial intelligence, DNA testing and the modern obsession with Instagramming food.
Since the CEO took over in January 2017, the group has bought a majority stake in California-based high-end brand Blue Bottle Coffee and acquired Texan brand Chameleon Cold Brew.
Nestle has seen increasing demand for a Japanese subscription program for nutrition that can cost about US$600 a year for capsules and other products.
The world’s biggest food company has seen increasing demand for a Japanese subscription program for nutrition.
Nestlé and other European brands have been cutting costs, shedding underperforming brands, and returning cash to investors.
However, illy's owners have so far turned down all approaches to be acquired.
Billionaire hedge fund manager Daniel Loeb's Third Point is urging steps it says can boost margins and double earnings per share at the world's biggest food company by 2022.
The letter and presentation, came a year after the firm, run by billionaire investor Daniel Loeb, took a roughly US$3 billion stake in the maker of KitKat bars and Perrier water.
Loeb fired off a 34-page presentation over the weekend, demanding a far more radical transformation than the world’s largest food company has so far embraced.
The suspension is effective from the announcement and extends to all Nestle subsidiaries, according to an RSPO statement dated Wednesday.
Environmentalists have criticised the plan as lacking substance.
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