South African pharmaceutical group Aspen Pharmacare has acquired Nestle’s infant milk factory in Mexico and licences for some of its brands in Latin America.
The latest deal between Aspen and Nestle will see the South African group gain licence rights to intellectual property, a production facility in Vallejo in Mexico, and shares in the businesses conducted by Nestlé and Pfizer in Latin America, Aspen said.
The transaction follows a similar deal in April that saw Aspen buy licences for some of Nestle’s infant milk brands in southern Africa and Australia for A$215m.
The agreement includes the exclusive right of use of the Nestlé S26 Gold and SMA trademarks for ten years in South and Central America. It will also have the right to co-brand the licensed products over the same period.
The revenue for the infant nutrition businesses totalled US$187m in 2012.
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Australian competition authorities have approved the acquisition, while South African and Namibian approval is pending, Aspen said.
