Nestlé confirms the acquisition of food supplement business The Bountiful Company
Nestlé announced today (30.04.2021) that it’s entered into an agreement with KKR to acquire food and health supplement business The Bountiful Company. Nestlé will buy The Bountiful Company’s core brands, including Nature’s Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride as well as the company’s US private label business for $5.75 billion. The Bountiful Company’s Pure Protein, Body Fortress and MET-Rx, Dr.Organic and the Canadian over-the-counter (OTC) are not included in the deal.
The new acquisition will become part of Nestlé Health Science, ‘creating a global leader in vitamins, minerals and nutritional supplements‘, Nestlé said in a press release . The agreement is expected to be finalised in the second half of 2021.
“Vitamins and supplements are a key part of our business and have contributed to strong growth acceleration,” said Nestlé Health Science CEO Greg Behar. “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.”
The Bountiful Company President and CEO Paul Sturman commented: “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.“
Nestlé’s Heath Science division currently includes vitamins, minerals and supplements brands Garden of Life, Vital Proteins, Pure Encapsulations, Wobenzym, Douglas Laboratories, Persona Nutrition, Genestra, Orthica, Minami, AOV and Klean Athlete.
Nestlé is not the only consumer goods company heavily investing into the supplement market. On Tuesday (27.04.2021) Unilever announced the acquisition of American food and fitness supplement brand Onnit. The value of the deal has yet to be disclosed.