Nestle says taking action to keep top slot in food industry

April 16, 2015 3:38 PM

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Nestle says taking action to keep top slot in food industry

LONDON (Reuters) - Nestle (NESN.VX) told shareholders on Thursday it was taking steps to maintain its position at the head of the global food industry, where consolidation will create two big new rivals.

Nestle Chairman Peter Brabeck-Lemathe told the company's annual shareholder meeting the creation of Kraft Heinz Co and Jacobs Douwe Egberts, as well as "spectacular" growth of some other companies in developing markets, required two things of Nestle in order to remain the global leader.

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