VEVEY (dpa-AFX) - Swiss nutrition, health and wellness giant Nestle SA (NSRGY, NSTR.L) announced Thursday that the Board has decided to explore strategic options for Nestlé Skin Health. This review is expected to be completed by mid-2019.
The Board has concluded that the future growth opportunities of Nestlé Skin Health lie increasingly outside the Group's strategic scope.
As part of its regular strategy review earlier this year, the Board assessed Nestlé's Nutrition, Health and Wellness strategy. The Board fully confirmed the company's strategic direction and resolved to sharpen its focus on food, beverage and nutritional health products.
The company noted that Nestlé Skin Health provides science-based solutions to meet the specific skin health needs. It offers medical and consumer brands through three complementary business units, including Epiduo and Soolantra in Prescription, Restylane and Azzalure in Aesthetics, Cetaphil and Proactiv in Consumer Care.
Lausanne, Switzerland-based Nestlé Skin Heath employs more than 5,000 people across 40 countries. It had sales of around 2.7 billion Swiss francs in 2017.
Mark Schneider, CEO, said, 'Nestlé Skin Health has made significant progress under its new leadership team over the past 2 years. The company has developed convincing growth strategies for each of its business units and regained a competitive cost structure. Now is the right time to explore the best ownership structure for Nestlé Skin Health and to consider ways of taking it to the next level.'
Copyright RTT News/dpa-AFX