Nestle History Summary

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History
Nestlé was founded in Vevey, Switzerland, 1860s when Henri Nestlè created Farine Lactee, a blend of cow’s milk, wheat, flour and sugar, with aim to aid mothers unable to offer necessary nutrients to their infants. At first, this product was addressed to children intolerant to their mother’s milk and all other existing periodic substitute products of the 1860s. This formula promptly resulted in saved lives and improved health, thus the company shortly started expanding into European markets.
During the early 1870s, Nestlé developed its own condensed milk, becoming a main competitor to an Anglo-Swiss firm specialized in condensed milk as well. The latter, founded in Switzerland in 1866 by Charles Page, aimed to use Switzerland’s ample
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Quantity of milk in Europe was particularly limited, restricted to public need rather than a means of creating more intricate meals. Nestlé’s reaction to this predicament was the introduction of new factories in the US, where demand of condensed milk and other dairy products increased through government contracts. Thus by the end of the war, Nestlé’s production had doubled, with 40 factories worldwide. Nonetheless, the end of the war brought drastic increases in milk prices and other ingredients, thus Nestlé slowly became indebted. This led to great economic difficulty in the 1920s, therefore Nestlé hired banking expert Louis Dapples. His proposed strategy depended on reorganization of administration and introduction of new financial controls to reduce the debt. Simultaneously, Nestlé maintained its expansion, acquiring Peter, Cailler and Kohler Swiss Chocolate Company. This sparked product variation as Nestlé offered new chocolate and a powdered drink, Milo. By early 1930, Nestlé also developed Nescafé, a revolutionized coffee beverage that became an instant hit, followed by…show more content…
The first half of the 1990s continued to be favourable, with Central and Eastern Europe as well as China opening up. In this period Nestlé also acquired San Pellegrino and Spillers Petfood. Pet food company, Nestlé Purina PetCare Company was then formed after the acquisition of Ralston Purina in 2001. In 2002, Nestlè also merged with Dreyer’s and one month later Chef America Inc was bought, a leading frozen food firm. By the beginning of the 21st century Nestlé was a world leader in the food industry: total sales were equal to $81 billion, with 470 factories around the world. By 2005, chairman Peter Brabeck-Letmathe noticed diet shifts and decided to provide products and service concerning health and wellness as well. Nestlé Health Science and the Nestlé Institute of Health Sciences were thus created in 2009 in order to prevent and treat chronic medical conditions with nutrition

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