NESTLE SA, the world's largest food company, said yesterday that it aimed to add 1 billion Swiss francs (US$909 million) to sales by 2011 from expansion in central and eastern Europe.
Those countries should generate 20 percent of European revenue by 2011 and profitability that beats the average for the entire region, the Switzerland-based company said. "Potential for continued growth is promising," said Nestle, the maker of Nespresso coffee and Moevenpick ice cream.
Russian chocolate maker Ruza is among companies that Nestle has bought to bulk up in emerging markets, where economic growth is stronger than in western Europe and North America, according to Bloomberg News.
The Swiss food producer has forecast a 19-percent gain in sales this year from Russia, where exports of crude oil and natural gas are driving a 10th straight year of economic expansion.
Nestle products range from San Pellegrino mineral water to Purina pet foods.