Nestle is expanding its global food business with acquisitions

0
39

VEVE, SWITZERLAND – Nestle Health Science, a business division of Nestle SA, has agreed to acquire Puravida, a Brazilian food and lifestyle brand that manufactures and sells products such as beverage mixes, protein powders, food bars and snacks based in Sao Paulo. . . The terms of the agreement are not disclosed.

Puravida is owned by private investment company Aqua Capital. The food-focused company was founded in 2016 and describes Aqua Capital as a “vertical brand in digital form”. According to a private investor, 60 percent of Puravida’s sales are accounted for by its e-commerce channel between business and consumer, and the rest is sold in regular retail sales across Brazil.

“Combining the in-depth expertise of Puravida and Nestle Health Science in nutrition research and development will lead to further innovation, expanding the breadth and depth of the portfolio through channels of consumers and healthcare professionals. Our retail capabilities will open up new opportunities for Puravida to grow further, and our strong network of healthcare professionals will expand the brand’s presence, ”said Monica Mill, Head of Nestle Health Science Latam.

The deal is expected to be completed in the second quarter of 2022.

Over the past few years, Nestle has acquired several health-focused businesses. In February, the company acquired a controlling stake in Orgain, Irvine, California, a plant-based food company that manufactures and sells powders, ready-to-eat beverages and food bars. That same month, Nestle completed the acquisition of Vital Proteins, a Chicago-based manufacturer of food, beverage and collagen-based supplements.

In May 2021, Nestle acquired Nuun, a functional moisturizing brand that sells low-sugar, water-soluble electrolyte tablets, and in April, Nestle acquired some brands of vitamins and supplements at The Bountiful Co. for $ 5.75 billion.

“Vitamins and supplements are a key part of our business and have helped boost growth,” said Greg Behar, CEO of Nestle Health Science, when Nestle acquired The Bountiful Co. “This acquisition complements our existing health and nutrition portfolio in terms of brands and channels. This will enable Nestle Health Science to become a leader in mass retail, specialty retail, e-commerce and direct consumer in the United States, while offering significant opportunities for geographic growth. ”

Nestle is expanding its global food business with acquisitions

Source link Nestle is expanding its global food business with acquisitions