Nestle Took-over Novartis Medical Nutrition for US$2.5bn

Filed in archive Corporate and Industrial News on July 5, 2007

After a long-awaited deal, Nestle has confirmed its successful take-over of Novartis Medical Nutrition to the tune of US$2.5bn.

Not only will the deal strengthen nestle's health and nutrition division but will come with 2,000 workers whose expertise will boost Nestlé's R&D capability.

"The combination of the two in over 40 countries increases Nestlé's capabilities to satisfy the needs of consumers with special nutritional requirements. The deal will create a product portfolio covering all disease specific cases where special nutrition is needed."

According to Nestlé's chief executive Peter Brabeck-Letmathe:

"I am very pleased that this acquisition allows us to become a very strong player in the strategic core category of nutrition. ... This is a very important step for the Nestlé Group in its strategic transformation process to a nutrition, health and wellness company as it strengthens the core of our globally managed Nestlé Nutrition business."

Find more details from the full report at NutraIngredients and the press release at Novartis Medical Nutrition (a pdf file).