Nestlé cuts value of stake in shrinking infant formula arm by €260m

The global food company has significantly reduced the value of its investments in Wyeth Nutritionals over the past two years as production at the Askeaton company has fallen off

26th October, 2021
Nestlé cuts value of stake in shrinking infant formula arm by €260m
Nestlé bought Wyeth Nutritionals Ireland for more than €10 billion in 2012, but has been reducing the value of its stake in the firm over recent years. Picture: Getty

Nestlé has whittled down its investment in its infant formula unit by almost €260 million over the last two years amid significantly falling levels of production at the firm.

Wyeth Nutritionals Ireland, the company Nestlé bought from Pfizer in 2012, has scaled back production levels at its Askeaton headquarters this year due to weak global demand, the Business Post revealed in August....

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Profits at Irish arm of Coca-Cola rise to €2.1bn despite drop in turnover

Single-parent dating app raises €600k for US rollout

Company watch: Glanbia moves to quell investors’ unease

TritonLake aims to raise €221m with partnerships in new markets