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BUSINESS
March 25, 1992 | GEORGE WHITE, TIMES STAFF WRITER
Swiss food giant Nestle SA won the bidding war for Source Perrier SA on Tuesday and will acquire the French mineral-water company for $2.6 billion in a deal that will make Nestle a dominant force in every major mineral-water market. The deal is a new sign of global consolidation in the highly competitive packaged food business--further evidence that giants such as Nestle, the Anglo-Dutch-owned Unilever Group and U.S.
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BUSINESS
March 25, 1992 | GEORGE WHITE, TIMES STAFF WRITER
Swiss food giant Nestle SA won the bidding war for Source Perrier SA on Tuesday and will acquire the French mineral-water company for $2.6 billion in a deal that will make Nestle a dominant force in every major mineral-water market. The deal is a new sign of global consolidation in the highly competitive packaged food business--further evidence that giants such as Nestle, the Anglo-Dutch-owned Unilever Group and U.S.
BUSINESS
January 20, 1992 | From Times Staff and Wire Reports
Perrier Takeover Bid May Loom: A French regulator's ruling sent shares of Source Perrier soaring and prompted fresh speculation that there could be a cross-border struggle for control of the mineral water and cheese group. The stock market regulatory agency CBV rejected a request by Italy's Agnelli family and three allies to be exempted from having to buy out Perrier minority shareholders.
BUSINESS
January 20, 1992 | From Times Staff and Wire Reports
Perrier Takeover Bid May Loom: A French regulator's ruling sent shares of Source Perrier soaring and prompted fresh speculation that there could be a cross-border struggle for control of the mineral water and cheese group. The stock market regulatory agency CBV rejected a request by Italy's Agnelli family and three allies to be exempted from having to buy out Perrier minority shareholders.
BUSINESS
November 2, 1990 | From Times Wire Services
The bottlers of bubbly Perrier water reported today that net profits more than doubled in the first half of 1990 despite a worldwide recall after traces of the chemical benzine turned up in some samples. The profit increase came mostly from the sale of the group's soft-drink operations, Source Perrier SA said. First-half sales of the popular mineral water itself were down 14% from 1989 due to the recall and delays in restocking, Source Perrier said.
BUSINESS
January 3, 1991 | Associated Press
Perrier's slice of the U.S. imported mineral water market fell by half last year after benzene contamination forced a global recall, Source Perrier SA Chairman Jacques Vincent said today. Perrier's share of the imported water market has dropped from 44.8% to 20.7% since February, 1990, when traces of the cancer-causing chemical were found in some bottles. But Vincent told the newspaper La Tribune de l'Expansion that U.S.
BUSINESS
May 12, 1990 | From Associated Press
Source Perrier SA said Friday that the costs associated with the recent recall of its popular bottled sparkling water were assessed to last year's account, resulting in a 75% plunge in earnings for 1989. The company said net profit totaled $47 million for the year, compared to $185 million in 1988. Perrier recalled its bottled water worldwide in February after tests showed traces of benzene, a cancer-causing chemical, in its product in several countries.
BUSINESS
February 12, 1990 | Associated Press
Perrier resumed bottling mineral water today, and a company spokesman said human error probably caused the benzene contamination that forced the recall of about 72 million bottles in Canada and the United States. "All tests at the end of the production line have been negative," spokesman Jean-Claude Lemaignen said after bottling returned to normal. Company officials believe that only 13 bottles were contaminated with the poisonous chemical, he said.
BUSINESS
September 8, 1992 | JAMES F. PELTZ
Nestle SA, based in Vevey, Switzerland, celebrated its 125th anniversary last year. The company traces its roots to 1866, when Europe's first condensed-milk factory opened in Cham, Switzerland, operated by Anglo-Swiss Condensed Milk Co. Nestle itself was formed from the merger in 1905 of Anglo-Swiss Condensed Milk and Farine Lactee Henri Nestle. Its business initially focused on milk and foods for infants, but Nestle added dozens of other products during the next century.
BUSINESS
April 19, 1990 | From Times wire services
Perrier water will be back on the shelves soon, but it won't have the same sparkle--at least not on the label. The Food and Drug Administration has ruled that the mineral water's claim to be "naturally sparkling" is false and ordered the American distributor to remove the phrase from bottles by July 30. "The water comes out of the ground and the carbonation is added," Bob Crowell, compliance officer in the FDA's Boston district office, said today.
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