Nestle predicts petfood sales over US$ 1 billion in Latin America
Latin American sales fueled by rising incomes, increased demand for pet supplies
In the article, Nestle Purina's Chief Executive W. Patrick McGinnis said sales in Latin American countries like Brazil are growing at nearly 20% a year, as incomes of pet owners rise. McGinnis also said Nestle is hiring more salespeople and pursuing acquisitions to strengthen its Latin American business. According to the article, Nestle reported nine-month sales growth and a total revenue of US$85.4 billion, helped by gains in emerging markets like Latin America.