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.
Ads are commonly a bone of contention in this industry, with food manufacturers regularly coming under fire for what they believe is creative use of media. ...
Singapore-based agribusiness giant Wilmar International is to publish more information on how it sources its palm oil, a move welcomed by environmentalists....
Just two weeks into 2015 and competition among UK grocers is heating up further. Will suppliers be caught in the crossfire? Corporate restructuring firm Begbies Traynor thinks so....
- Premier Foods CEO expects UK supermarket rebound
- Briefing: The risks and rewards of e-tail in China
- Unilever must "speed" response to consumer trends
- Why Post is increasing its exposure to cereal
- Global factors hold sway over UK milk prices
- Post Holdings strikes deal to acquire MOM Brands
- Crisp maker Sibell acquires Spain's Celigueta
- Up & Go breakfast drinks set for UK launch
- Food industry news of week: Unilever, PepsiCo
- Greencore expands UK, US sales
- 10 Key Trends in Food, Health and Nutrition 2015
- The Sugar Backlash and its Effects on Global Consumer Markets
- The Future of Retailing in the UK to 2017
- Unilever - Strategy and SWOT Report
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits