Switzerland – Swiss food and beverage producer Nestlé SA has announced that it is acquiring the infant nutrition business of Pfizer Inc. for $11.85 billion.
According to Vevey, Switzerland-based Nestlé, the move will help boost the company’s sales of infant nutrition in emerging markets like China. It will also allow Nestlé to meet its commitment to be the world’s leading nutrition, health and wellness company.
Currently, 85 per cent of Pfizer Nutrition’s $2.4 billion in annual sales of infant nutrition are in emerging markets.
The deal is subject to regulatory approval.