(MENAFN) In a move that would expand its business in healthcare, Nestle is to buy Canadian vitamin maker Atrium Innovations for 2.3b USD, as it hopes to make up for weakness in packaged foods.
Nearly 80% of Atrium's sales are from the US, indicating that there is still a possibility to acquire business somewhere else.
Head of Nestle Health Science said: "We continue to look for opportunities in things that make sense in very disciplined fashion."
Nestle Health Science already offers nutritional products for people with specific medical conditions and has been at the head of Nestle's aspiration to become a "nutrition, health and wellness" company as packaged food sales drop, due to changing tastes.
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