Nestlé Buys U.S. Pizza Lines

According to the Wall Street Journal, “with two transactions in the space of two days, Nestlé SA has put its focus more squarely on food, bolstering its presence in an important category in North America and pulling out of the noncore ophthalmology sector.”

“Nestlé said Tuesday it is buying Kraft Foods Inc.’s frozen-pizza operations in the U.S. and Canada, including brands such as DiGiorno and Tombstone, for $3.7 billion in cash. A day earlier Nestlé sold its remaining stake in U.S.-based eye-care unit Alcon Inc. to Swiss drug makerNovartis AG for $28.1 billion,” the story said.