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.


BLOG

Danone closes WhiteWave, who will acquire Stonyfield?

Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...

BLOG

Premier Foods pension news offers cheer but challenges remain

Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....

BLOG

Another reshuffling of pack at Hain Celestial

Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....

BLOG

FrieslandCampina looking to sell final non-dairy asset

FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....

just-food homepage



Forgot your password?