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A Swiss food conglomerate buys a dairy giant for $3 billion
Nestlé has long had a keen appetite for U.S. companies. In a buying binge during the '70s, the Swiss food conglomerate helped itself to Beech-Nut (baby foods), Libby, McNeill & Libby (fruit juices) and Stouffer (hotels and frozen dinners). But Nestlé then decided to halt its U.S. expansion because of heavy financial losses suffered in Argentina.
Now, after nearly four years of retrenchment, Nestlé (1983 sales: $12.7 billion) is once again hungry to add American names to its list of bestselling brands, which...
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