The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Nestlé general counsel for Europe Trevor Brown said: “It’s been four years now… It’s purely part of internal discipline and standard practice.”
The last tender was in 2003 following the company’s Running Shoes initiative, which capped legal spend at 0.13 per cent of total sales revenue. Since then Nestlé’s global legal spend has fallen from SWf145m (£60.16m) to SWf107.5m (£44.6m) and the number of lawyers in the group has dropped from 213 to 179. Nestlé’s revenue has increased to almost SWf100bn (£41.49bn) in that time.
Brown said this year’s process will follow the same format. He said Nestlé had not needed to put the work out to tender for four years because the relationship between the company and its firms is so close.
The main law firms are used for corporate, finance and regulatory work in Europe.
For its first tender in 2003, Nestlé sent out invitations for submissions to around 30 firms in the UK and Europe, calling 12 for an interview. Six of those firms were asked back for a second interview.
The review was due to take place earlier this year but was delayed by Nestlé’s $5.5bn (£2.74bn) acquisition of baby food maker Gerber in the US last month.
Brown and the European team worked with the company’s US legal group on the deal and did not have time to conduct the review.