Nestlé could raise prices in the UK and seek efficiency savings to deal with the collapse in the value of the pound following the Brexit vote.
Chief executive Paul Bulcke said on Thursday that the Swiss food giant, which has a huge confectionery factory in York making best-selling KitKats, Aeros, Polos and Yorkies, was considering all options, including efficiency savings and price rises, as it came under pressure from soaring costs.
He also said it would consider its investments in the UK in the light of Brexit but would wait to see what kind of Brexit deal the UK secured before deciding whether to scale back or not.
“Let’s first let the dust settle,” he told a press conference yesterday, adding that investments in the country were for the long term.
A spokesman said the efficiency savings referred to were across the company as a whole, not just in the UK.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel