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

A spring break for just-food

The UK is enjoying its annual spring bank holiday on Monday (30 May)....

BLOG

Amazon causing more waves in FMCG - without an announcement

The online retail behemoth is again causing chatter throughout the sector, this time amid speculation it is set to launch more private-label products. ...

BLOG

China's new e-commerce laws - confusion reigns

Talking with our readers, a common problem among them is their battle to keep tabs on the changes to regulations in China. And the recent moves Beijing has made to revamp its rules around e-commerce h...

BLOG

Is Chinese meat company WH Group eyeing US M&A?

Rumours Chinese pork giant WH Group is eyeing acquisitions, particularly in the US, have surfaced....

just-food homepage



Forgot your password?