Little impact on hard Brexit: Nestle’s Europe chief

For Nestle, Britain represents its 5th biggest market.

In a significant development, Swiss food giant Nestle’s European chief Marco Settembri disclosed, Brexit will have a “very limited effect” on its British business.

“We don’t see any disruption in the business,” said Settembri during an investor conference while noting that 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.”

For Nestle, Britain is its fifth biggest market where it had a turnover of $2.92 billion (2.9 billion Swiss francs) in 2018.

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