Nestlé to acquire core brands of vitamins manufacturer Bountiful for $5.7bn
Nestlé has signed a deal worth $5.75 billion with KKR to acquire core brands of Bountiful, a US manufacturer of vitamins and nutritional supplements.
Included in the deal are Bountiful’s brands – Nature’s Bounty, Solgar, Osteo Bi-Flex, and Puritan’s Pride and also its US private label business. Nestlé will integrate the acquired brands into Nestlé Health Science with a goal to establish a global major for vitamins, minerals, and nutritional supplements.
The brands to be acquired had net sales of $1.87 billion in the last 12 months ending 31 March 2021.
Bountiful’s sports and active nutrition brands – Pure Protein, MET-Rx, Body Fortress, Dr.Organic and the Canadian over-the-counter (OTC) business, which are not complementary to the Nestlé Health Science portfolio, have been excluded from the deal.
Paul Sturman – President and CEO of Bountiful said: “Today’s announcement from Nestlé Health Science recognizes the transformation of The Bountiful Company over the past 3+ years, as well as the collective value and capability of the organization. I am incredibly grateful to the more than 4,500 colleagues around the globe who have worked tirelessly to get us to this point.
“As a leader in global nutrition, we take seriously our responsibility and role in consumers’ health and wellness. We’re incredibly proud of the trusted brands we’ve built and are confident that they will be strong assets for Nestlé.”
According to Nestlé, the combination of Bountiful’s core assets and its own science and innovation in health and nutrition will help it expedite benefits in prevention and treatment solutions to consumers across the globe.
The current vitamins, minerals, and supplements brands of Nestlé Heath Science are Garden of Life, Vital Proteins, Wobenzym, Pure Encapsulations, Genestra, Orthica, AOV, Douglas Laboratories, Minami, Persona Nutrition, and Klean Athlete.
Greg Behar – Nestlé Health Science CEO said: “Vitamins and supplements are a key part of our business and have contributed to strong growth acceleration.
“This acquisition complements our existing health and nutrition portfolio in terms of brands and channels. It will establish Nestlé Health Science as the industry leader in mass retail, specialty retail, e-commerce and direct-to-consumer in the US, while offering significant opportunities for geographic growth.”
Subject to regulatory clearance and customary closing conditions, the deal is expected to be wrapped up in the latter half of this year.