Put another way, he's exploiting management's tendency to not focus on high growth products, by not selling off the profitable, but slower growing products themselves.
The result of this is that the high growth is diluted over a broader base revenue made up of slower growth companies... which lowers the companies value to investors (PEG is a common measure of the value of a company, which is combination of price, earnings and growth, so growth increases the multiple.)
If there were no friction this would be good, because the slower growing products will be merged with other companies who probably have the same product line, and then they can be combined to produce another generation that has the best of both previous companies products.
Alas, there is always friction in human things and thus this strategy has risk for all involved,