Nestle is in discussions to buy nutritional supplement maker The Bountiful Company, the Swiss food giant said on Monday, confirming earlier reports it was close to a deal in the mid-single-digit billions.
“Nestle S.A. today announced that it is in discussions to acquire all or part of The Bountiful Company,” Nestle said, following reports last week.
The maker of KitKat chocolate bars and Nescafe instant coffee declined to give further details.
Bountiful, which is majority-owned by private equity firm KKR Co & Inc, makes Nature’s Bounty vitamins, Osteo Bi-Flex joint-care supplements and Puritan’s Pride vitamins and supplements.
Nestle, the world’s largest packaged food company, has been expanding its presence in consumer healthcare by pushing aggressively to acquire companies in areas beyond traditional food businesses.
Health is seen as a growing sector by Nestle and has been the focus of many of its recent acquisitions including buying a majority stake in Vital Proteins and buying Aimmune Therapeutics and IM HealthScience last year.
Bountiful was founded in 1971 in New York and is based on Long Island. It employs 4,500 people globally.
Source: Business-Standard