In its announcement, Nestlé said the acquisition (which is subject to regulatory approval) is a strategic move to enhance its position in global infant nutrition.
Pfizer Nutrition is a global pediatric nutrition company with a portfolio of brands encompassing everyday and specialty infant and toddler formulas, follow-on formulas, as well as maternal and adult nutrition products.
Pfizer Nutrition has sales, product development, manufacturing, and business centres in the United States, Latin America, Europe, Middle East, Africa and Asia. Nestlé estimates the acquired business’ 2012 sales will be US2.4 billion.
Nestlé CEO Paul Bulcke said, “We will be able to combine well-known brands like S-26 Gold, SMA and Promil with our existing portfolio of brands such as Nan, Gerber, Lactogen, Nestogen and Cerelac infant cereal.”
Mr Bulcke said that 85 per cent of Pfizer’s sales are in emerging markets, many of them with large, fast-growing populations.
