Nutrition & Santé, the French high-value dietary food specialist, will be sold to Japanese firm Otsuka Pharmaceutical, subject to regulatory approval.

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The value of the transaction has not been disclosed.


Known for its Gerblé, Gerlinéa and Milical brands, Nutrition & Santé was sold by Novartis to its present owners, Abenex Capital and LVMH’s management fund, L.Capital, for EUR220m (US$302.1m) in February 2006.


Abenex controls 51% of the company with the remaining 49% of its capital in the hands of L.Capital.


Nutrition & Santé generated a turnover last year of EUR280m (US$302.2m) and employs 950 staff in Europe. Based in Revel, near Toulouse, it operates five production plants in France.

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The takeover could be completed during the first quarter of 2009.

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