Nestle nears plan to cut underperforming brands

Nestle has drawn up lists of brands it owns that can be fixed and others that can't, CEO Paul Bulcke told investors Tuesday, adding that there will be "divestitures" of some brands. Bulcke didn't name specific brands that are likely to be sold; the conglomerate's lengthy list of properties includes Gerber baby food, Perrier water and Nescafe coffee. "The shortlists are there and now the action has to come. The timelines have to be wise, but action will come," he said.

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