Nestle : Agreement with PAI to create a JV in frozen pizzas in Europe
>Continuation of the refocusing - Outperform rating maintained. The creation of a JV with PAI Partners in frozen pizzas in Europe may seem of minor importance (0.5% of sales). But it shows that the refocusing is continuing and, more importantly, in our view offers an exit option from frozen pizzas in the US (2% of group sales), or even from the entire US frozen food business (4% of group sales). There is no urgency: the economic equation in the US is healthy. But we s...Nestle is a holding company which is based in Switzerland. Through its subsidiaries and allied companies, Co. is engaged in the food processing industry. Co.'s product portfolio has seven categories, Powder and Liquid Beverages, Nutritional and Health Science, Milk products and ice cream, Prepared dishes and cooking aids, PetCare, Confectionery and Water.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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