February 13, 2020 / 8:56 AM / 10 days ago

BRIEF-Nestle CEO says impact of migration from direct store delivery model will be felt most in 2020

Feb 13 (Reuters) - Nestle SA CEO AT PRESS CONFERENCE:

* PORTFOLIO MANAGEMENT WAS A BIT HEAVY ON DISPOSALS AND A BIT LIGHT ON ACQUISITIONS, 2020 WILL BE BETTER IN THAT REGARD

* SAYS ORGANIC GROWTH FROM PORTFOLIO MANAGEMENT IN 2019 WAS 35 BASIS POINTS

* SAYS WE CONTINUE TO BE VERY BULLISH ABOUT STARBUCKS IN 2020 AND BEYOND

* SEES ACCELERATING DOUBLE-DIGIT GROWTH RATES FOR PLANT-BASED PRODUCTS

* SAYS PLANT BASED BUSINESS GROWING IN DOUBLE DIGITS IN 2019 ALREADY

* SAYS VERY BULLISH FOR 2020 AND BEYOND

* SAYS DIRECT STORE DELIVERY MIGRATION IMPACT WILL BE FELT MOST IN 2020

* SAYS WATER BUSINESS HAS BEEN SOURCE OF DISAPPOINTMENT FOR 2 YEARS, WILL UNVEIL NEW STRATEGY FOR WATERS THIS YEAR, MOST LIKELY IN H1

* SAYS ACQUISITIONS WILL HELP COMPANY GROW

* SAYS MOVING OUT OF DSD HAS MASSIVE POSITIVE EFFECTS ON BOTTOM LINE, ALSO ON TOPLINE AT A LATER STAGE

* SAYS DOESN’T RULE OUT BIG ACQUISITIONS, BUT SMALL AND MID-SIZED ONES ARE THE SWEET SPOT

* SAYS CO HAS KEY KNOW HOW FOR PLANT-BASED PRODUCTS IN HOUSE BUT COULD LOOK AT PLANT-BASED M&A IF “SOMETHING OBVIOUS COMES UP”

* SAYS MAINSTREAM INFANT NUTRITION BUSINESS IN CHINA IS UNDER PRESSURE FROM LOCAL RIVALS Further company coverage:

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