Word: nestled
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Switzerland's powerful firm of Nestlé Alimentana last week launched another carefully planned assault on European palates and pocketbooks. From Nestlé's modernistic Alpine redoubt in the quiet town of Vevey came word that the company had put together a handful of small Austrian, German and Scandinavian firms that it has quietly bought up over the past two years, and set up a frozen food subsidiary called Findus International. Nestlé's market researchers have discovered that the average American consumes 48 lbs. of frozen food a year, the average European less than three. Nestl...
Frozen foods by Nestlé may come as a surprise to Americans who associate the company with chocolate bars and Nescafé. Since World War II, however, Nestlé has become much more than that. Thanks to its Swiss base, Nestlé emerged from the war with comfortable cash reserves-and a new outlook. "Up till then," says Managing Director Jean C. Corthesy, "we had thought mainly of children. Now we think about their parents...
Shooting for the parent trade, Nestlé in 1947 bought Maggi, a Swiss company with a $100 million-a-year line of soups and seasonings. In 1960, Nestlé's bosses laid out another $27 million for England's venerable Crosse & Blackwell Ltd., with its 26 soups, preserves, pickles and puddings. Last year the company picked up Italy's Locatelli, which produces cheese, tomato products and meats. Today, Nestlé markets everything from soup to nuts, has 75,000 employees and 180 factories in 34 countries. With annual sales of $1.5 billion, it is the world...
...Corp., which bit into the market last year with 53 packaged "gourmet" items, planning to sell them for prestige value alone. General Foods this year will add seven new luxuries, including bouillabaisse ($1.10), spiced Cherry Heering preserves ($1.25), Smithfield ham and cheese paté (70?), babas au rhum ($1.10). Nestlé will now have a big finger in the luxury pie, recently signed to sell Switzerland's famed Hero line of preserves...
Switzerland. The Zurich Bourse, leading stock market of Switzerland, had its most active year since World War II's end, with average prices up 24% in 1954 and almost every Swiss stock climbing to new alltime highs. Nestlé Alimentana Co. (food and chocolate) was up 20% from 1953; Sulzer Machine Works up 35%; Switzerland's Ciba chemical company, helped by the new drug "Serpasil," used to combat nervous disorders and high blood pressure, jumped from $650 a share...