June 11, 2019 / 9:48 AM / 4 months ago

Nestle Europe chief sees little impact from hard Brexit

FILE PHOTO: A logo is pictured during the 152nd Annual General Meeting of Nestle in Lausanne, Switzerland April 11, 2019. REUTERS/Denis Balibouse/File Photo

ZURICH (Reuters) - Nestle sees only a “very limited effect” on its British business from the country’s departure from the European Union, the Swiss food giant’s European head Marco Settembri said on Tuesday.

“We don’t see any disruption in the business,” he told an investor conference, noting most of Nestle’s UK businesses were self-sufficient. “I don’t believe there will be a crisis, but we can go on in a hard Brexit scenario.”

Britain is Nestle’s fifth biggest market, with sales of 2.9 billion Swiss francs ($2.92 billion) in 2018.

Reporting by John Revill

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