Nestle’s big bet on pet food is paying dividends during the pandemic

Alexandra Ossola
·2 min read
Nestle’s big bet on pet food is paying dividends during the pandemic
Nestle’s big bet on pet food is paying dividends during the pandemic

According to an earnings report released today, the Swiss company reported 3.5% organic growth so far in 2020, and 4.9% growth in the third quarter, its highest level of quarterly growth in the past six years. “Nestle has been investing in pet food for some years, either by making some shrewd acquisitions or R&D in more science-based nutrition,” says Duncan Fox, a research analyst at Bloomberg Intelligence. In many parts of the world, pet adoption rates have soared as the pandemic has forced people to spend more time at home.