Nestle sees growth
Nestle SA, the world’s biggest food company that has a prepared foods division based in the Cleveland suburb of Solon, has said it expects to achieve its targeted long-term sales growth rate next year after an acceleration in revenue from Asia and Africa in the third quarter.
Nestle’s sales growth excluding acquisitions, divestments and currency swings may reach its goal for an average level of 5 percent to 6 percent in 2014, Chief Executive Officer Paul Bulcke said. The Vevey, Switzerland-based company also reiterated it expects growth of “around” 5 percent this year.
“If this is the line we walk, that is the intention we have,” Bulcke said at a press conference, saying the goal is “doable” for 2014. “We see some colors coming back in many areas of the world, in spite of some slowing down.”
Nestle’s acceleration in emerging markets over the past three months contrasts with the slowdown seen by consumer-product companies such as Unilever and PepsiCo Inc. Still, the Swiss company faces headwinds as European consumers cut spending, which led to Nestle’s lowest pricing growth for the first nine months of any year since 2003.
— Bloomberg News
Applebee’s franchise sale
All southwest Ohio Applebee’s Neighborhood Grill and Bar restaurants — including those in Springfield, Hamilton, Middletown, Fairfield, Mason, West Chester and eight in the Dayton area — are about to get new ownership.
Lexington, Ky.-based restaurant management company Thomas & King announced that it is selling its Applebee’s franchise operations, which includes 88 Applebee’s in Ohio and several other states, to RMH Franchise Corp. of Lincoln, Neb., according to the Lexington Herald-Leader. Thomas & King has been the nation’s sixth-largest Applebee’s franchisee, with more than 5,500 employees. RMH owns and operates 60 Applebee’s restaurants in 10 states. The acquisition would make RMH the second-largest Applebee’s franchisee in the nation, the Herald-Leader reported.
— Dayton Daily News