Nestlé is sitting on a big cash pile after selling a skin-care health unit for just over $10 billion earlier this month. Nestlé has been ditching underperforming businesses after coming under fire from activist investor Daniel Loeb and his hedge fund Third Point back in July. The 153-year-old brand has increasingly been investing in health and personal nutrition: One of its subsidiary divisions, Nestlé Health Science, recently bought Persona, a personalized vitamin startup that delivers straight to customers’ doors. Earlier this year, Nestlé also started selling Starbucks coffee and teas in 34 countries after signing a $7.15 billion cash deal for the exclusive rights to do so. Crucial statistic: Nestlé stock hit an all-time high in September and is up by over 30% so far this year.

Source: Forbes October 17, 2019 17:48 UTC