I'm not a 'mega deal' maker, says Nestle CEO Schneider

Food group Nestle is in no hurry to acquire companies given rich valuations and will stick to its traditionally cautious approach to deals, its chief executive told a conference on Thursday.

"I've done hundreds of deals in my life, the largest one ever was Starbucks at 7 billion so I'm not a 'mega deal' maker," Mark Schneider said in a discussion organised by Bernstein.

"I'm a strong believer in that statement by former U.S. President Obama: don't do stupid stuff. That to me in M&A is sort of the guiding light. You have to stay level-headed, down to earth, even if something looks attractive on paper it has to add up in all components," he said.