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Nestle Europe chief sees little impact from hard Brexit

Nestle Europe chief sees little impact from hard Brexit
FILE PHOTO: A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018. REUTERS/Denis Balibouse -
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ZURICH (Reuters) – Nestle sees only a “very limited effect” on its British business from the country’s departure from the European Union, the Swiss food giant’s European head Marco Settembri said on Tuesday.

“We don’t see any disruption in the business,” he told an investor conference, noting most of Nestle’s UK businesses were self-sufficient. “I don’t believe there will be a crisis, but we can go on in a hard Brexit scenario.”

Britain is Nestle’s fifth biggest market, with sales of 2.9 billion Swiss francs ($2.92 billion) in 2018.

(Reporting by John Revill)

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