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Nestlé

Swiss multinational food corporation

Nestlé, a Swiss multinational food and drink processing conglomerate, is the largest publicly held food company globally. It offers a wide range of products including baby food, bottled water, coffee, and snacks. Established in 1905, Nestlé has grown through mergers and acquisitions, and operates in 189 countries with over 300,000 employees. The company has faced controversies over its marketing practices and use of child labor.

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Timeline

Foundation of Nestlé

The Nestlé company history begins in 1866 with the foundation of the Anglo-Swiss Condensed Milk Company, marking the inception of the renowned Nestlé brand.

Henri Nestlé Starts Milk-Food Production Company

In 1867, German-born pharmacist Henri Nestlé started a milk-food production company in Vevey, Switzerland. His first product was an infant cereal for mothers who couldn't breast-feed, which quickly became successful.

Nestlé Company purchased by Jules Monnerat

In 1874, the Nestlé Company was purchased by Jules Monnerat, which marked a significant milestone in the company's history.

Addition of condensed milk by Nestlé

In 1878, the Nestlé company added condensed milk to its products, further intensifying the rivalry between Anglo-Swiss and Nestlé.

Carnation is a brand of food products owned by Nestlé, including evaporated milk and sweetened condensed milk.

Misuse of Baby Formula

The misuse of baby formula led to malnutrition or death of many infants in developing countries. Nestlé acknowledged the superiority of breastfeeding and the dangers of substituting breast milk with other substances.

Merger of Nestlé and Anglo-Swiss Condensed Milk Company

In 1905, the rival companies Nestlé and Anglo-Swiss Condensed Milk Company merged to form the basis of what has grown into a multinational conglomerate that sells pet food, health supplements, bottled water, and candy bars.

Impact of World War I on Nestlé

The start of World War I disrupted Nestlé's operations by making it challenging to procure raw materials and distribute products.

Nestlé's Increased Production

During World War I, Nestlé purchased several factories in the U.S. to meet the rising demand for condensed milk and dairy products through government contracts. As a result, the company's production doubled by the end of the war.

Stouffer's is a brand of frozen prepared foods currently owned by Nestlé.

Butterfinger is a candy bar created in 1923 in Chicago, Illinois, by Otto Schnering, which currently is manufactured by Ferrara Candy Company.

Kit Kat is a chocolate-covered wafer bar confection created by Rowntree's of York, England. It is now produced globally by Nestlé.

Merger with Alimentana S.A.

Nestlé continued to prosper by merging with Alimentana S.A., a company known for manufacturing soups.

Impact of Second World War on Nestlé

With the onset of the Second World War, Nestlé's profits plummeted due to the economic impact of the war.

Nestlé's Expansion to Developing Countries

Due to distribution problems in Europe and Asia, Nestlé opened factories in developing countries in Latin America, leading to a dramatic increase in production after America entered the war.

Introduction of Taster’s Choice instant coffee

In 1965, Nestlé introduced a new kind of instant coffee called Taster’s Choice, made possible by the new technology of freeze-drying.

Marketing of Baby Formula in Developing Countries

In the 1970s, baby formula marketing in developing countries led to issues such as illiteracy and poverty causing some mothers to use less formula than recommended. This resulted in vital nutrients being lessened in watered down formula.

Nestlé Boycott

Nestlé faced a boycott due to its flagship brand Nescafé being the main target. Other products from the company were also included in the boycott list to intensify pressure on Nestlé.

Nestlé's investment in L’Oréal

In 1974, Nestlé expanded its product line outside of the food market by becoming a major stockholder in L’Oréal.

Nestlé Infant-Formula Boycott

In July 1977, a boycott was initiated in the United States against Nestlé due to its aggressive advertising of infant-formula baby food as an alternative to breast-feeding, which led to health problems and deaths among infants in less-developed countries. The boycott later spread to Europe and beyond, led by groups such as World Alliance for Breastfeeding Action and Save the Children.

Hot Pockets is a brand of microwaveable turnovers and pocket sandwiches produced by Nestlé.

Nestlé Agrees to Follow International Code in Developing Countries

In 1984, Nestlé agreed to follow the International Code in developing countries, leading to the suspension of a boycott. This decision was made in response to concerns about the promotion of baby formulas in developing nations.

Nestlé Acquired Rowntree Mackintosh PLC

In 1988, Nestlé acquired Rowntree Mackintosh PLC, a leading British chocolate manufacturer, marking the largest takeover of a British company by a foreign one to date.

Inclusion of Body Shop in Nestlé Boycott

Despite objections from Anita Roddick, Body Shop was added to the Nestlé boycott list. This decision was made to further strengthen the pressure on Nestlé.

Nestlé boycott for formula advertising in developing countries

Nestlé stopped all public advertising for formula in developing countries almost 20 years ago, due to restrictions on donations for orphans, multiple births, and babies with no access to breast milk. The boycott continues to some extent to this day without satisfactory resolution.

Nestlé's Overall Sales

Nestlé brings in $81 billion in overall sales, solidifying its position as a leading company in the food industry.

Nestlé Chocolate Price Fixing Charges

In 2013, Nestlé Canada, two former executives, a competitor, and a distributor were charged with allegedly fixing the price of chocolate. This followed a multiyear investigation by the Canadian Competition Bureau and resulted in a $23 million settlement paid by Nestlé Canada and other chocolate producers.

Nestlé Financial Performance

In 2014, Nestlé reported consolidated sales of CHF 91.61 billion and net profit of CHF 14.46 billion. The research and development investment was CHF 1.63 billion.

Nestlé Market Capitalisation

As of May 2015, Nestlé had a market capitalisation of roughly 231 billion Swiss francs, which is more than US$247 billion. It is the biggest food company in the world.

Nestlé acquires majority stake of Blue Bottle Coffee

In September 2017, Nestlé S.A. acquired a majority stake of Blue Bottle Coffee. The deal was reported to be worth up to $500 million for a 68 per cent stake in Blue Bottle.

Nestlé Marketing Practices Change Due to Boycott

The boycott against Nestlé led to significant changes in the company's marketing practices, such as discontinuing the claim that their infant formula is the 'natural start' for babies. Despite this, Nestlé executives refused a proposed plan that could have saved infant lives and resolved the boycott.

Nestlé USA sells US confectionary business to Ferrara Candy Company

In January 2018, Nestlé USA announced the sale of its US confectionary business to Ferrara Candy Company for an estimated $2.8 billion.

Nestlé and Starbucks strike $7.15 billion distribution deal

In May 2018, Nestlé and Starbucks struck a $7.15 billion distribution deal, allowing Nestlé to market, sell and distribute Starbucks coffee globally and incorporate the brand's coffee varieties into Nestlé's proprietary single-serve system.

Nestlé announces sale of Gerber Life Insurance

In September 2018, Nestlé announced the sale of Gerber Life Insurance for $1.55 billion.

Nestlé Plant-Based Food Production

In 2019, Nestlé entered the plant-based food production business with its Incredible and Awesome Burgers under the Garden Gourmet and Sweet Earth brands.

Nestlé announces investment in plant-based food

In 2020, Nestlé announced its intention to invest in plant-based food, starting with a 'tuna salad' and meat-free products to engage and reach younger and vegan consumers.

Nestlé sells water brands in US and Canada

On 16 February 2021, Nestlé announced the sale of its water brands in the US and Canada to One Rock Capital Partners and Metropoulos & Co.

Nestlé's initiative to pay cocoa farmers for sending children to school

In January 2022, Nestlé announced its plan to pay cocoa farmers cash if they send their children to school.

Nestlé's Health Science unit acquires Puravida

In May 2022, Nestlé's Health Science unit acquired the Brazilian organic, natural, plant-based food maker Puravida.

Nestlé acquires majority stake in Grupo CRM

In September 2023, Nestlé acquired a majority stake in the premium chocolate manufacturer, Grupo CRM, for an undisclosed amount.

Nestlé listed as International Sponsor of War

In November 2023, Ukraine's National Agency on Corruption Prevention listed Nestlé as an International Sponsor of War due to the company's continued business in Russia following the 2022 Russian invasion of Ukraine.

End of the Timeline
Nestlé

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