Nestlé to acquire Bountiful in multimillion dollar deal
FMCG giant, Nestlé has disclosed that the company is in a multimillion dollar discussion to acquire all or part of The Bountiful Company in an effort to reshape its portfolio.
The Bountiful Company, which is backed by private equity group KKR and has been making preparations for a flotation, sells a range of health products including supplements, probiotics and multivitamins. According to Bloomberg reports, KKR had been planning to value Bountiful at more than $6bn in an initial public offering.
Earlier in the year, in a bid to review parts of its North American waters division and sharpen the focus of its global water portfolio, Nestlé reached an agreement to sell its regional spring water brands, beverage delivery service, and purified water business including Pure Life® in the U.S and Canada.
Commenting on the sale and strategic review, Mark Schneider, Nestlé CEO said: “We continue to transform our global waters business to best position it for long-term profitable growth. This sale enables us to create a more focused business around our international premium brands, local natural mineral waters and high-quality healthy hydration products. We will also boost our innovation and business development efforts to capture emerging consumer trends, such as functional water.”
Nestlé has since then been selling off less profitable parts of its portfolio and pushing into health and nutrition. The company also bought Canadian supplements maker Atrium Innovations in a $2.3bn deal.
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