Nestlé announces nutrition deal, but confirms 573 job cuts Nestlé has agreed to acquire The Bountiful Company’s core health and nutrition brands in a deal worth $5.75bn (£4.09bn), while confirming hundreds of job cuts across its KitKat and Fruit Pastilles factories.
The manufacturer’s acquisition includes the Bountiful Company’s Nature s Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride brands and its US private label business.
The transaction is expected to close in the second half of 2021, following the completion of customary closing conditions, including regulatory clearance.
Nestlé Health Science chief executive Greg Behar said the acquisition complemented its existing health and nutrition portfolio in terms of brands and channels.
Nestlé and KKR have entered into an agreement in which Nestlé will acquire core brands of The Bountiful Co. for $5.75 billion. The Bountiful Company is the number one pure-play leader in the growing global nutrition and supplement category.
The transaction includes the high-growth brands Nature s Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride, as well as the company s US private label business. These brands will be integrated into Nestlé Health Science, creating a global leader in vitamins, minerals, and nutritional supplements. The Bountiful Company s sports and active nutrition brands Pure Protein, Body Fortress, and MET-Rx, as well as Dr.Organic and the Canadian over-the-counter (OTC) business, which do not complement the Nestlé Health Science portfolio, are not included in the deal. The transaction is expected to close in the second half of 2021, following the completion of customary closing conditions, including regulatory clearance.
Nestle buys vitamin maker Bountiful s main brands for $5.75-b
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Deal excludes sports, active nutrition brands Nestle has bought the main brands of vitamin and supplements maker The Bountiful Company for $5.75 billion, the world s largest packaged food company said on Friday, the latest expansion of its health and nutrition business. Nestle bought Bountiful from KKR in a deal which covers the U.S. company s Nature s Bounty, Solgar, Osteo Bi-Flex and Puritan s Pride brands.
The deal, expected to be completed during the second half of this year, did not include the sports and active nutrition brands Pure Protein, Body Fortress and MET-Rx, as well as Dr.Organic and the Canadian over-the-counter business, which did not fit with the rest of Nestle Health Science business. This acquisition complements our existing health and nutrition portfolio in terms of brands and channels, said Greg Behar, CEO of Nestle Health Science.