Nestle mulling domestic acquisitions

Food-maker, Nestle, is mulling acquisitions in India with a view to expand its product-line and plans to launch more products in the coming days, a top company official said.

"We are growing...we plan to acquire one or a couple of companies to expand our product-line in India. This is the right time and we have to invest more here," Nestle India's Chairman and Managing Director, Antonio Helio Waszyk, told reporters here.

However, Waszyk did not give any time-frame for the acquisitions.

"It may happen sooner than later," was all he said. Nestle India plans to launch new products including breakfast cereals in the coming days in India. "It will be one among eight categories which we are looking at. Working women are growing in the country.

So we think our packaged food items will get more demand here. We see more opportunities in the Indian market," Waszyk said. However, he did not give any timeline for the launch of products.