The company plans to acquire a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.
The acquisition, Nestls first investment in an online content property, is a major step in the companys efforts to better serve and enhance the lives of consumers through digital technology and content.
Designed to meet the increasing demand for healthy food products at a great price, Target is introducing Simply Balanced, a new food collection within its owned brand portfolio.
The new facility, which will employ approximately 180 people, will serve as a national production and distribution center for Muller yogurt, which launched in select regional markets in 2012.
Lawrence Kurzius will also have the responsibility for several of the company's corporate functions, including IT, Supply Chain, R&D and Quality Assurance.
The appointment comes at a time when PepsiCo's underperforming beverage unit has been under scrutiny, with Wall Street chattering about the possibility of a spinoff of the unit to focus on its faster-growing snacks.
