Hey baby, Nestlé to acquire Pfizer Nutrition
In a strategic move to enhance its position in global infant nutrition, Vevey-based Nestlé has agreed to acquire Pfizer Nutrition for $11.85 billion, subject to regulatory approval.
Infant nutrition is a high-value, science-led category. Pfizer Nutrition is a dynamic, high-quality infant nutrition business that complements Nestlé's existing portfolio with strong brands in key segments and geographies. It will enhance Nestle's infant nutrition business, building on its growth-focused strategy, global presence and pioneering research and development.
"Infant nutrition has been at the heart of our company since it was founded in 1866," said CEO Paul Bulcke. "Pfizer Nutrition is an excellent strategic fit, and this acquisition underlines our commitment to be the world's leading nutrition, health and wellness company. Its strong brands and product portfolio, its talented people dedicated to the success of its business, together with its geographic presence -- 85 percent of its sales are in emerging markets -- will complement our existing infant nutrition business perfectly. The combined entities will enable us to deepen our engagement with consumers, offering them a wider choice of nutritious food to ensure their children make a healthy start to a healthy life."