A group of Nestle shareholders have criticized the world’s biggest food-maker for not going far enough in its target to increase sales of more nutritious products.
Last week, the maker of Nescafe and KitKats pledged to increase sales of products that have a Health Star Rating of 3.5 or above by around 50% in the eight years through 2030. The planned increase of at least 20 billion Swiss francs ($22 billion) in revenue is broadly in line with its medium-term guidance to grow sales by a mid-single digit percentage each year.
Since Nestle includes products that nutrient-profile models don’t consider as nutritious — like coffee and baby food — the company can meet those targets by selling more of those, the investor group coordinated by NGO ShareAction said.