Nestle to Buy Gerber
Nestle SA, the world's biggest food and drink company, said Thursday it will buy Gerber Products Co. from pharmaceutical maker Novartis SA for $5.5 billion, giving it the largest share of the global baby food market.
The acquisition helps further Nestle's recent focus on health and nutrition, following its purchases of the U.S. weight control company Jenny Craig and Novartis Medical Nutrition.
Nestle, which owns brands such as Nescafe, Perrier and Dreyer's, is also the world's largest manufacturer of infant nutritional products -- largely through its leading positions in developing countries such as Brazil and China -- but had no presence in baby food in the United States.
The acquisition helps further Nestle's recent focus on health and nutrition, following its purchases of the U.S. weight control company Jenny Craig and Novartis Medical Nutrition.
Nestle, which owns brands such as Nescafe, Perrier and Dreyer's, is also the world's largest manufacturer of infant nutritional products -- largely through its leading positions in developing countries such as Brazil and China -- but had no presence in baby food in the United States.
posted by Stock Administrator @ 11:32 AM
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