Food giant Nestlé plans to sell its lunch-meat brand Herta to continue its pivot toward plant-based products. “Inside food and beverage, if you think about today’s announcement on Herta, it really shows how we are positioning the company towards what is benefiting from higher growth and future areas such as plant-based offerings that are very much on-trend with where consumers are heading,” Nestlé CEO Mark Schneider said during a press conference. In 2017, Nestlé acquired meatless brand Sweet Earth, which helped drive its revenue into the green for the first time in seven years. This spring, Nestlé plans to debut its answer to the plant-based Impossible Burger, which it will brand the “Incredible Burger,” (pictured) to further capitalize on the booming plant-based industry. “Consumer behaviors change in food and beverage,” Schneider said. “And we want to bet on areas that are growing fast.”
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