(Bloomberg) Nestle SA agreed to buy vitamin maker Bountiful Co. for $5.75 billion, becoming a world leader in the field of minerals and supplements as the pandemic boosts demand for pills for health-conscious consumers. Nestle Health Science Chief Executive Officer Greg Behar said the purchase from private equity firms KKR & Co. and Carlyle should double e-commerce revenue from supplements to about $1 billion this year. Chief Executive Officer Mark Schneider dove into the field of vitamins and supplements in his first year as CEO in 2017 with the $2.3 billion acquisition of Atrium Innovations Inc. He has focused on developing larger brands in the competitive, fragmented segment, seeing a market in high-spending health-conscious consumers. “The bolt-on acquisition fits well with Nestle’s strategy to further expand in the highly attractive and globally growing category of specialized nutrition,” wrote Patrik Schwendimann, an analyst at Zuercher Kantonalbank. He said the price
(Bloomberg) Nestle SA agreed to buy vitamin maker Bountiful Co. for $5.75 billion, becoming a world leader in the field of minerals and supplements as the pandemic boosts demand for pills for health-conscious consumers. Nestle Health Science Chief Executive Officer Greg Behar said the purchase from private equity firms KKR & Co. and Carlyle should double e-commerce revenue from supplements to about $1 billion this year. Chief Executive Officer Mark Schneider dove into the field of vitamins and supplements in his first year as CEO in 2017 with the $2.3 billion acquisition of Atrium Innovations Inc. He has focused on developing larger brands in the competitive, fragmented segment, seeing a market in high-spending health-conscious consumers. “The bolt-on acquisition fits well with Nestle’s strategy to further expand in the highly attractive and globally growing category of specialized nutrition,” wrote Patrik Schwendimann, an analyst at Zuercher Kantonalbank. He said the price
Nestle Buys Vitamin Brands From KKR for $5.75B
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Nestle SA agreed to buy vitamin maker
Bountiful Co. for $5.75 billion, becoming a world leader in the field of minerals and supplements as the pandemic boosts demand for pills for health-conscious consumers.
A bird’s nest logo at the Nestle SA headquarters in Vevey, Switzerland. Photographer: Stefan Wermuth/Bloomberg
Nestle Health Science chief executive officer
Greg Behar said the purchase from private equity firms
KKR & Co. and
CEO
Mark Schneider dove into the field of vitamins and supplements in his first year as CEO in 2017 with the $2.3 billion acquisition of
World Business Quick Take
Nestle to buy Bountiful
Nestle SA agreed to buy vitamin maker Bountiful Co for US$5.75 billion, becoming a world leader in the field of minerals and supplements, as the COVID-19 pandemic boosts demand for pills. KKR & Co and Carlyle are selling the company for 16.8 times earnings before interest, tax, depreciation and amortization. Nestle said it expects the purchase to close in the second half and weigh on profitability this year. Nestle chief executive officer Mark Schneider dove into the field of vitamins and supplements in his first year as CEO in 2017 with the US$2.3 billion acquisition of Atrium Innovations Inc.