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Nestlé Nature’s Bounty is in talks to buy the company behind vitamins and minerals in what would be the latest multi-billion dollar deal to reshape its portfolio by the Swiss food group.
The team behind KitKat chocolate and Nescafé coffee said Monday it was in discussions to buy The Bountiful Company, which is backed by the private capital group KKR, and is preparing for a float.
“Nestlé SA announced today that it is in discussions to acquire all or part of The Bountiful Company,” the company said in a single-line statement, confirming a report in the Wall Street Journal last week.
KKR intended to value Bountiful at more than $ 6 billion in its initial public offering, Bloomberg News reported in January.
Nestlé has sold and pushed for more profitable parts of its portfolio health and nutrition Under the direction of CEO Mark Schneider.
Among its provisions was an agreement to sell several in the US and Canada this year bottled watermarks $ 4.3 billion in private equity to One Rock Capital Partners and Metropoulos.
Nestlé’s rivals in consumer goods such as Reckitt Benckiser have continued to add to its health interests. Shortly after Schneider took office in 2017, Nestlé bought Canadian manufacturer of Atrium Innovations accessories at a $ 2.3 million deal.
They contain vitamin and mineral supplements it sells particularly well During the coronavirus pandemic, consumers were expecting products that would improve their overall well-being and boost their immunity.
The trend helped propel Nestlé in the first week it has achieved the fastest quarterly sales growth in a decade, including blocking consumer habits, such as drinking coffee at home.
Bountiful sells a wide range of health products, including supplements, probiotics and multivitamins. The New York-based Long Island-based company generated net sales of more than $ 2 billion a year through the end of September.
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