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Numico baby food division

This article was originally published in The Tan Sheet

Executive Summary

Dutch firm expects annualized net cost savings of roughly $39.5 mil. in 2006 as part of effort to optimize manufacturing platform of its European Baby Food Division. Under plan announced July 7, Numico will reduce number of manufacturing plants from 16 to 9, eliminating 750 jobs and creating 225 new positions at the remaining plants. "Related cost savings will be reinvested in innovation, marketing and sales programs," firm says. Numico also is evaluating its options regarding GNC and recently accepted "informal" bids for the supplement chain; former CEO Bill Watts, along with a U.S. venture capital company, have expressed interest (1"The Tan Sheet" May 12, 2003, In Brief)...

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Bill Watts "has expressed a potential interest in acquiring cooperation with a U.S. venture capital company," Royal Numico announces May 9. However, Dutch firm stresses "no decision on a possible future divestment" of the supplement retailer has been made. Watts will step down from Numico's Supervisory Board, firm says during Annual General Meeting of Shareholders. A former GNC CEO, Watts stepped down in March 2000 to join the Supervisory Board (1"The Tan Sheet" Nov. 6, 2000, p. 6)...

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