Nestlé to buy vitamin maker Atrium Innovations for $2.3 bln: Reuters
Nestlé is paying US$2.3 billion to buy Canadian vitamin maker Atrium Innovations, expanding its presence in the consumer healthcare market as it seeks to offset weakness in its traditional packaged foods, Reuters reported. The world’s largest packaged food company is buying Atrium, which is expected to have 2017 sales of US$700 million, from a group of investors led by European private equity firm Permira Funds. Atrium’s largest brand is Garden of Life supplements. Nestlé said the acquisition will become part of Nestlé Health Science and extend its portfolio with probiotics, plant-based protein nutrition, meal replacements and multivitamins. Québec City-based Atrium was acquired in 2014 by a Permira-led consortium. The deal valued the company at $1.1 billion.
