Nestle To Sell Vitamins Business For $1 Billion
The move comes as Nestlé CEO Philipp Navratil tries to streamline and turn around the Swiss foodmaker.
The deal includes brands such as Nature's Bounty, Osteo Bi-Flex and Puritan's Pride alongside the US private-label supplements business and its manufacturing and logistics operations.
The sale is the latest effort by Navratil to sharpen Nestle around its most promising pillars like coffee, petcare and food & snacks. The company sold half of its water business earlier this year and is also offloading its ice cream interests. The review of the vitamin brands and waters business was already kicked off by Navratil's predecessor.
In an interview in Zurich, Navratil said that the divestment“frees up a lot of time” for teams to focus of priority areas.
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