Nestle 10 pct organic growth/yr in nutrition unit, seeks acquisitions

nestle ZURICH (AFX) - Nestle SA said it aims for 10 pct annual organic growth in its nutrition segment while also seeking acquisitions, citing Novartis AG's Gerber unit as a potential target.

'We are aiming for 10 pct organic growth in the nutrition business,' a spokesman for the Swiss food giant said.

He added that Nestle was still seeking acquisitions and that the group might well be interested in Novartis (nyse: NVS)' Gerber unit, should the pharma group put Gerber up for sale.

'We will definitely be among the companies taking a close look at Gerber,' the spokesman said.

In Dec 2006 Nestle said it had agreed to acquire the medical nutrition business of Novartis for a total amount of 2.5 bln usd.

source AFX