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Assignment代写范文-雀巢公司的并购策略

来源:网络整理    作者:Top论文网    发布时间:2020-09-28 10:32    浏览次数: 次    字数:14928字

文章分类:Assignment代写案例    文章关键词:Assignment代写范文

文章导读:本文是一篇Assignment代写范文,范文主要讨论了世界知名企业雀巢公司的并购策略,介绍雀巢的早期发展史,以及它是如何通过布局全球并购蓝图而发展为一家成功的跨国公司的。...

  雀巢公司是世界上最大的食品制造商,1867年由Henri Nestle在瑞士创办了这家未来的食品业巨头。今天,雀巢在全球范围内拥有500多家工厂。这家公司最初是以生产婴儿食品起家,现在则是以生产巧克力棒和速溶咖啡闻名遐迩。

  

  并购作为一种常见的商业策略能够为并购双方带来很多的好处。最重要的就是并购所产生的协同效应包括:经营协同效应和财务协同效应。只要运用得当并购行为可以帮助企业扩大生产经营规模,提高市场份额,跨入新的行业,实施品牌经营战略,实施多元化战略。这些好处在雀巢漫长的并购史中被很好的体现了出来。

  今天的范文就是分析世界知名企业“雀巢公司”的并购策略,本篇文章将会被分为两部分。第一部分用来介绍雀巢的早期发展史,以及它是如何通过布局全球并购蓝图而发展为一家成功的跨国公司的。第二部分将在下一篇范文中继续介绍,下篇主要介绍雀巢在中国的发展史以及它究竟实施了哪些策略、并购了哪些本土品牌后成为中国市场上最大、最成功的食品企业的。

  1.Background Information

  Nestlé is known for its numerous cross-border acquisitions in various industries to win local market. Through these acquisitions, Nestlé now has more than 6,000 different brands across the world, with around 22,000 products, mainly coffee, baby food, dairy products, breakfast cereals, candies, seasoning, bottled water, ice cream, pet food and so on. These products are categorized into seven distinct lines of business below.

  At first, Nestlé's powdered and liquid beverages accounts for 22% of total sales worldwide mostly due to a high rate of soluble coffee sales. Powdered and liquid beverages include brands such as Nescafe, Nespresso, Tasters Choice and Nestea in worldwide coffee industry, Nestlé's competitors include Boncafe, Owl Super Coffeemix Mfg Pte Ltd, and Super Coffeemix Mfg Pte Ltd, however, with Kraft Foods (Maxwell House) being its biggest rivalry.

  Nestlé is currently number one in China coffee market with 80% marketshare. Next, there are 75 different brands of bottled water around the globe. In China, Nestlé is the 9th player in selling water, with only 1.7% of market by value according to Euromonitor. Nestlé also sells infant food, milk, condensed milk, and ice cream.

  It has up to 17,000 farmers trained by 2011 on dairy farming and launched several world-class Dairy Farming Institutes to foster the development of sustainable dairy production throughout the globe.

  In addition, for many years, Nestlé focuses on nutrition, health, and wellness which are also mentioned in its new redefined strategy to ensure its products are safer and healthier while meeting customers taste. To enhance its growth in these areas, several companies were acquired including Pfizers Wyeth infant nutrition business in April 2012 at $11. 85 billion.

  2.Inception, Development and Early Acquisitions

  Nestlé was originally only a small scale milk manufacturer. Through the history of Nestlé, it gradually expanded its scale through effective capital operation and a rich experience in acquisitions.These factors were the main keys for Nestlé to achieve a significant market share and improve its competitiveness, becoming the biggest player in the worldwide food industry.

  Back to the very beginning, the founder of the Nestlé Company, Henri Nestlé, a trained pharmacist at his early twenties, was very concerned on the high rate of baby mortality due to malnutrition. Nestlé began experimenting various combinations of cow’s milk, wheat flour and sugar, trying to develop a substitute source of baby food.

  He founded his company under his family name, Nestlé, in 1866. His formula was later proved to be viable option to mothers who were unable to breast feed their children. His new product was launched a year later and quickly expanded throughout the region and saved many infants’ lives, his product became a great value to consumers, and is known under the name of Farine Lactee which soon was sold throughout Europe.

  By 1875, Nestlé further expanded his business territory and started to sell its products in many parts of the world, including Indonesia, Egypt, USA and Argentina. However, on the same year, Nestléen countered difficulties in management and could not sustain a healthy development of the company, and later the company was acquired by Jules Monnerat.

  Though Nestlé underwent new ownership, its approach to national and international markets by the new management was retained. Monnerat was a wise businessman who deeply understood the key to Nestlés success, The company should overcome competitive obstacle, quickly merge in new markets, be a leader in their core industry, and most of all to perform investment and M&As as an effective method.

  With this in mind Monnerat started to perform a series of acquisitions in other countries, penetrated overseas market and built local factories to manufacture products, saving the cost of export tax as well as trade barriers.

  In the beginning of 1898, Nestlé started to perform a series of acquisitions in the US, Britain, Germany, Spain, and many other countries, and started to build factories expanding its scale. However, it did not take long for the other companies to master the formula of condensed milk and milk powder.

  Nestlé's formula was no longer a secret to its competitors. To change this, Nestlé merged with the Anglo-swiss Condensed Milk Company in 1905. Together they stepped outside Europe and started to explore new markets. At the time of World War I in 1914, Nestlé already had 4 sub-factories around the globe, and became a food producing giant.

  Although the World War I had brought global disaster, Nestlé was able to make profit out of it. The war brought shortage in food, and milk became scarce while its price kept rising. During the war, Nestlé made many profits and had a fast growth. As the war ended, farming in Europe returned to normal and people had more demand in fresh milk rather than condensed milk or powdered milk.

  In the 1930s, scientists working for Nestlé invented a way to conserve coffee, which is today known as instant coffee. This new product was very appreciated by consumers. During the World War Il, Nestlé received huge coffee orders from the army. Since then its coffee sales increased from 100 million coffee bags to 225 million.

  After the war, Nestlé set a long term target of global development and performed a series of investments and acquisitions overseas. In 1947, Nestlé decided to establish partnership with Maggi, an American food company, who at that time was also a rapidly growing company.

  Mr. Nestlé showed understanding of the importance of branding from the very beginning of his career. The original logo he used was based on his family's coat of arms, which features a bird sitting on a nest. This was a reference to the family name which means "nest "in German.

  Mr. Nestlé changed the logo to reflect a mother bird in a nest on an oak branch feeding its three baby birds (later reduced to two baby birds), to build a connection between his name and his products.

  In the eyes of customers, such logo mirrors affection, protection, and safe food that a mother can give to her baby. Today, the familiar birds nest logo continues to be used on Nestlés products worldwide, in a modified form, and is considered as instantly recognizable logo.

  Through many M&A activities, Nestlé kept a sustainable growth in the international market, and had a strong competitive strength. However, its development was not always smooth as expected.

  After the1970, infants from countries including USA and Australia who were fed from Nestlé products were reported of malnutrition, in severe cases death were also reported. This badly influenced Nestlé image, and consumers from different corners of the world protested against Nestlés products.

  Facing such a situation, Nestlé had no choice but to make changes to its strategy. It established special R&D centers to ensure a balanced nutrition in its products. Nestlé also made commitment to abide by the WHO rules for infant food. It took a decade for the consumers to start trusting Nestlés product again but at a high cost to Nestlé.

  In 1982, Helmut Maucher became the new Chief Executive Officer of Nestlé. He quickly put forward a new two-fold strategy: improve Nestlé financial situation through internal adjustments and divestments, and continue its policy of strategic acquisitions.

  Despite a downturn business, Nestlé had $16 billion saved in bank. Marcher used this saving to perform a series of overseas acquisition. Many people thought that this would not save Nestlé. But the fact proved different, and that the decision made by the new CEO was wise. T

  hese acquisition activities made Nestlé came out from its downturn, and started to make profits again. In 1984, Nestlé put forward a new set of acquisitions, including a public offer of $3 billion for the American food giant Carnation. During that time, the takeover, sealed in 1985, was one of the largest in the history of the food industry.

  In 1988, Nestlé acquired British Rowntree at the price of $6 billion. This acquisition had brought Nestlé a renowned brand, Kit-kat. Nestlé later acquired two more companies French Perrier and Italian San Pellegrino in 1992 and 1997 respectively, both produced bottled mineral water. The acquisitions had given green light to Nestlé in mineral water market in Europe.

  In 2001, Nestlé spent 10 billion in the purchase of Purina and creation of Nestlé Purina Pet Care Company the second pet food manufacturer giant in America. After the acquisition, Nestlé became the world’s second biggest pet food manufacturer.

  In 2002 Nestlé acquired Haagen-dazs from the American General Mills Company and took over all shares. There were two main acquisitions in 2002: Dreyer, America third biggest ice-cream business, and German Schoellers Company. These acquisitions made Nestlé a leading ice-cream business, taking over 60% market share in the US.

  In 2006, Jenny Craig and Uncle Toby's were acquired, as well as Greek Delta Ice Cream In 2007, Nestlé spent almost US$5.5 billion to acquire Gerber Company, a sub-company of Novartis. Gerber was the world biggest company and had a good reputation for its baby products.

  The acquisition made Nestlé to become the world biggest baby food product manufacturer. On March 1, 2010, Nestlé purchased Krafts North American frozen pizza business for S3.7 billion and market leader of fast food and snack in USA and Canada.

  Through the history of Nestlé, we found that Nestlé’s success lies on its constant acquisition activities to keep expanding its scale, and maintained its dominant position. These acquisitions had made Nestlé the world largest supplier of infant food products, beverages, confection, ice-cream, seasonings, pet food, healthcare nutrition, and many other fields. Today, Nestlé is the world largest food manufacturer, and is also one of the most successful MNES in history.

  3.Nestlé’s Business Principle of Cross-border Acquisitions

  Nestlé mainly uses cross-border acquisitions as a mode of entrying in a new industry or market or to increase its current market share in certain area. Throughout its long history, Nestlé has always targeted to achieve long term and sustainable profit. Nestlé would never favor a short term profit at the cost of successful long-term business development

  When considering cross-borders acquisitions, Nestlé has three unique principles committing to follow in all M&A activities.

  First, Nestlé performs M&As under the condition of free will from both parties. Nestlé’s executives know it well that the key factors influencing the success of an acquisition are the level of acceptance that the targets top management and its employees have upon the acquisition, as well as whether the integration is done smoothly. Acquisitions performed with any of the sides unwilling usually ended in failure. Nestlé understands this principle and never being hostile on its acquisition activities.

  Second, Nestlé would prioritize an acquisition of a company that can improve its current products on market. Even though Nestlé has a reputation of acquiring other companies, its acquisitions in history was not done blindly. It always insisted in acquisitions where both parties can be mutually benefited, or getting into partnership to strengthen their strategic target.

  The third one is the principle of competitive advantage. After an acquisition, Nestlé will invest into the target in terms of fund, technology and management. As return, Nestlé would maintain the targets’ original business models to better improve their competitive advantage after the integration.

  Nestlé has four main objectives of performing cross-border acquisitions.

  First, a direct access to resources from the company acquired. Through acquisition, Nestlé can have a direct access to the targets' factories, machines and equipment, HR, and many other tangible and intangible assets.

  In this way, Nestlé can fully skip the preparation of the whole process of purchasing equipment and employing new staff, and directly starts production, which is a time and cost saving advantage. In addition to this, Nestlé can use low cost local labor and raw materials from the country of the acquired company to save production cost.

  This is very frequently seen in developing countries Moreover, through acquisition, Nestlé can utilize the sales channel that the acquired company originally had, relying on the good image and consumer loyalty to the acquired company to rapidly promote its products in local market.

  A good example is Nestlé’s acquisition of the well-known Chinese confectionary company, Hsu Fu Chi (徐福记), in 2011. Through the acquisition, Nestlé was able to promote its product through accessing Hsu Fu Chis 128 sales points allover China as well as the 20,000 sales branches.

  The second value is to increase its market share. Nestléhas since the beginning constantly acquired overseas companies to increase its market share and defeat its competitors, hence taking over the leading position.

  At the beginning of the 21st century, Nestlé, Dreyer and Unilever were three competitors in the ice-cream market. To change this situation, Nestlé purchased the brand Haagen-dazs, and acquired Dreyer, Nestlé’s market share immediately increased to 60%.

  The third value is its diversification in its productsand operations. As mentioned early, diversification can lower the business risk of a company. In order to achieve diversification, acquisition is the most important means. From a small scale dairy product business, developed into today's diversified product line of baby food, beverages, confectionary, ice-cream, seasonings, nutrition and many other categories, and having more than 20 brand throughout the world, Nestlé’s diversification of products and operation comes from its numerous acquisitions.

  The forth value is to explore new market. At the end of last century, Nestlé experienced a downturn in its market share and revenue. Nestlé then decided to explore new overseas market and expanded to the Asia Pacific region, which at that time was undergoing fast economic growth, and with a huge potential market suitable for Nestlé development.

  Moving to a different region where the culture was different was risky and full of barriers. Through partnering with or acquisition of local companies, Nestlé successfully overcame these barriers and quickly become the leading player in many Asian countries.

  关于雀巢的全球并购策略的范文到此就介绍完了,作为一家在中国已经运作了超过100多年的跨国公司,雀巢在中国市场完美复制它的全球并购策略,最终成为了中国市场上最成功的食品集团。以上就是范文全部内容,范文内容和格式仅供参考学习,欢迎阅读,禁止抄袭。如果有Assignment代写需要,请联系网站客服。



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