Nestlé reiterates interest in Novartis food brands

Food group Nestle has reiterated its interest in parts of the functional food unit put up for sale by Novartis after a top executive said he would like to have the Ovaltine brand in Nestle's portfolio.

Brands being sold by the Swiss healthcare group include well-known names such as malt drink Ovaltine and sports beverage Isostar. Wessanen of the Netherlands has also declared its interest.

"We are always looking with interest at performance food products and there are several elements within (the Novartis unit) that could be of interest,"​ Nestle spokesman Francois Perroud told Reuters.

Alexandre Jost, head of Nestle's Swiss operations, said in an interview with Geneva newspaper Le Temps that he would like to have the Ovaltine brand in his portfolio but talks with Novartis were not at an advanced stage.

Perroud said Jost had expressed a "personal opinion".

The spokesman said he did not want to go beyond what Nestle chief executive Peter Brabeck had said in February. Brabeck expressed an interest in some of the Novartis brands and said he expected a decision on the matter by the end of the year.

Perroud and Jost also said Nestle was looking into an acquisition in the Swiss mineral water business.