Nestle plans $10-billion revamp

CEO Mark Schneider embarks on food major 's biggest overhaul in a decade

Nestlé may buy or sell businesses with combined sales of almost $10 billion as Chief Executive Officer Mark Schneider embarks on the biggest overhaul of the world’s largest food company in at least a decade.

Selective acquisitions and divestments could affect about 10 per cent of total revenue, Schneider told investors as he unveiled his new strategy to investors at a conference in London on Tuesday. Nestlé, which has about 90 billion francs in sales, aims to focus on faster-growing businesses such as coffee, bottled water and pet care as the company tries to sell its US chocolate business in its