0633 GMT - Nestle can shift its focus back to driving sales growth across its core portfolio after striking a $1 billion deal to sell its mainstream vitamins, minerals and supplements business to Yellow Wood Partners, Vontobel's Jean-Philippe Bertschy says in a research note. "Although widely expected, we view the announcement as sentiment-positive, as it draws a line under another underperforming non-core business and a painful episode of value destruction," Bertschy says. The deal follows other recent transactions to create a water joint venture with Platinum Equity and to offload its remaining ice-cream operations to its Froneri joint venture, the analyst says. After those deals, executives at the Swiss food giant can concentrate more fully on the key priority of accelerating organic growth, he adds.
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