Creating Shared Value
Nestlé articulates its Creating Shared Value approach to business for the first time, and launches its Nestlé Cocoa Plan and Nescafé Plan to further develop sustainable supply chains in cocoa and coffee. While strengthening its position in traditional segments, infant formula and frozen foods, Nestlé strengthens its focus on medical nutrition.
Nestlé announces its Creating Shared Value approach to doing business, where any action for shareholders must also create value for the communities Nestlé operates in, and for wider society. In Sri Lanka, Ceylon Nutritional Foods (Pvt) Ltd, International Dairy Products Ltd and Eastern Food Specialties Ltd merge with Nestlé Lanka Limited to form one entity.
A growing focus on medical nutrition leads Nestlé to acquire Novartis Medical Nutrition. It also buys baby food company Gerber and Swiss mineral waters concern, Sources Minérales Henniez.
Complying with new regulations – section 485 (6) of the Companies Act No. 7 of 2007 – Nestlé Lanka Limited is registered as Nestlé Lanka PLC.
Nestlé’s operations at its Polonnaruwa factory are relocated to its Kurunegala factory.
Nestlé creates a foodservice business division named Nestlé Professional, which develops products and services for culinary professionals.
The Nestlé Nutrition Institute, a non-commercial entity that shares science-based information and education with healthcare professionals, is launched in Sri Lanka.
Nestlé acquires Kraft Foods’ frozen pizza business. The Nestlé Cocoa Plan and Nescafé Plan are both launched to develop the company’s sustainable supply chains in cocoa and coffee, improve social conditions in farming communities, and ensure their profitability.
Nestlé Health Science and the Nestlé Institute of Health Sciences are established, to research science based nutritional products aimed at preventing and treating chronic medical conditions.
Nestlé acquires Wyeth Nutrition, formerly Pfizer Nutrition, for USD 11.9 billion, to strengthen its position in infant nutrition.
Nestlé Health Science buys US-based medical foods company Pamlab, which specialises in medical nutrition for patients with conditions including mild cognitive impairment and depression. Weight management business Jenny Craig is sold in America and Oceania.
With the creation of Nestlé Skin Health, Nestlé takes full control of the Galderma dermatology joint venture which it created with L’Oréal in 1981. The companies also end their joint venture Innéov, a cosmetic nutritional supplements business launched in 2002. Galderma subsequently acquires some of its assets.
Nestlé launches Cailler, the oldest surviving Swiss chocolate brand, as its first super-premium global chocolate. French frozen foods business Davigel is sold.
Nestlé celebrates 110 years in Sri Lanka and 150 years worldwide.