The CEO of Mondelēz doesn’t seem interested in buying Nestlé’s candy business
, and Wall Street is speculating over the most likely buyer of the business.
Mondelez is one potential bidder, according to recent notes from Jefferies, Morgan Stanley and Bloomberg Intelligence. But according to Mondelēz International CEO Irene Rosenfeld, the company doesn't need M&A to deliver growth.
In an interview with The Bottom Line, Rosenfeld didn't say outright that Mondelēz isn't interest in purchasing the business, but she seemed to allude to it, saying "We are quite satisfied with the portfolio we have today."
Following is the relevant transcript of the video.
Silverstein:We heard that Nestle might be selling off its US candy division. What does that mean to you? Is it because of a cost-cutting issue or is it because they are trying to get more healthy? What does that mean?
Rosenfeld:I can't speak to their motivation but what I would say is every time an M&A idea comes along, it causes a lot of conversation about whether or not that predicts a whole new trend for the industry and in our case, we are quite satisfied with the portfolio we have today. We don't need M&A to deliver our growth and we are very much focused on our strategy of driving growth by accelerating our core products, by continuing to expand into white spaces like chocolate in China, chocolate here in the US, and continuing to expand our position in all kind of — all retail channels including e-commerce.
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