Earlier in my career as a management consultant, I once questioned a CEO on his firm’s low level of organic growth.
“Much easier to buy market share!” he responded with a grin.
The recent failed acquisition of Unilever by Kraft Heinz reminded me of this quip. Kraft Heinz is a large consumer goods conglomerate with around $27bn in annualised net sales and organic growth of 1.6% year on year. In contrast, the much larger Unilever has €53bn in turnover, which fell by 1% year on year.