BRIEF-Nestle CEO says impact of migration from direct store delivery model will be felt most in 2020
Feb 13 (Reuters) - Nestle SA CEO AT PRESS CONFERENCE:
* PORTFOLIO MANAGEMENT WAS A BIT HEAVY ON DISPOSALS AND A BIT LIGHT ON ACQUISITIONS, 2020 WILL BE BETTER IN THAT REGARD
* SAYS ORGANIC GROWTH FROM PORTFOLIO MANAGEMENT IN 2019 WAS 35 BASIS POINTS
* SAYS WE CONTINUE TO BE VERY BULLISH ABOUT STARBUCKS IN 2020 AND BEYOND
* SEES ACCELERATING DOUBLE-DIGIT GROWTH RATES FOR PLANT-BASED PRODUCTS
* SAYS PLANT BASED BUSINESS GROWING IN DOUBLE DIGITS IN 2019 ALREADY
* SAYS VERY BULLISH FOR 2020 AND BEYOND
* SAYS DIRECT STORE DELIVERY MIGRATION IMPACT WILL BE FELT MOST IN 2020
* SAYS WATER BUSINESS HAS BEEN SOURCE OF DISAPPOINTMENT FOR 2 YEARS, WILL UNVEIL NEW STRATEGY FOR WATERS THIS YEAR, MOST LIKELY IN H1
* SAYS HAVE NOTHING TO ANNOUNCE ON YINLU AT PRESENT TIME
* SAYS ACQUISITIONS WILL HELP COMPANY GROW
* SAYS MOVING OUT OF DSD HAS MASSIVE POSITIVE EFFECTS ON BOTTOM LINE, ALSO ON TOPLINE AT A LATER STAGE
* SAYS DOESN'T RULE OUT BIG ACQUISITIONS, BUT SMALL AND MID-SIZED ONES ARE THE SWEET SPOT
* SAYS CO HAS KEY KNOW HOW FOR PLANT-BASED PRODUCTS IN HOUSE BUT COULD LOOK AT PLANT-BASED M&A IF "SOMETHING OBVIOUS COMES UP"
* SAYS MAINSTREAM INFANT NUTRITION BUSINESS IN CHINA IS UNDER PRESSURE FROM LOCAL RIVALS Further company coverage: