Blog: Nestle receives green light on Pfizer deal
Michelle Russell | 6 November 2012
Swiss food group Nestle today (6 November) received approval from the Chinese Ministry of Commerce for its US$11.85bn deal to acquire Pfizer's infant nutrition business.
The approval brings Nestle another step closer to completing the acquisition, which was announced in April this year, enabling the world's largest infant nutrition group to extend its lead in this fast-growing category.
Pfizer Nutrition operates in more than 60 countries globally and 85% of sales are generated in emerging markets, meaning the acquisition effectively fills in the blanks on the map for Nestle. It will provide the company with increased scale in a high-growth, high-margin, category in fast-growing developing markets, CEO Paul Bulcke told investors as it emerged as victor of competitive auction process.
Nestle beat companies including Danone and Mead Johnson to seal the agreement. The next hurdle, however, is to receive approval from anti-trust bodies in several countries in order to fully complete the acquisition.
Heinz's flagship product has provoked the ire of a competitor in Israel, a story that has attracted headlines in the international mainstream media. But even after making a change to the labels, a bot...
A lawsuit tabled in the US has brought fresh attention to the supply chain for prawns, which hit headlines around the world last year amid claims of slavery....
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Soda draws fire from food in Mexico obesity battle
- Why investors are concerned about water risk
- Challenges for General Mills with The Good Table
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Ajinomoto "eyes acquisitions in Europe"
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019