VEVEY, Switzerland: Nestle is realigning its focus on its core food and beverage operations after expanding into areas like health supplements that “weakened the fabric of the organization,” CEO Laurent Freixe told the Financial Times this week.

Freixe, who took over as CEO in September, said the company does not see widespread portfolio reduction as necessary—unless it involves categories where Nestle cannot remain competitive.

“I think we should never forget that M&A is not the strategy,” he said, pushing back on the notion that acquisitions alone should define the group’s direction.

Earlier this week, Freixe also noted that Nestle is regaining market share in the U.S., despite recent concerns over trade friction following new tariffs imposed by the Trump administration on key trading partners.