News
25 Apr 2012
Nestle to Buy Pfizer's Nutrition Business
Pfizer has agreed to sell its Pfizer Nutrition to Nestle for $11.85bn.
U.S. drugmaker Pfizer has agreed to sell its Pfizer Nutrition to Swiss food group Nestle for $11.85bn. The sale is expected to be completed by the first half of 2013.
The business, which sells infant nutritionals, recorded revenues of around $2.1bn in 2011, representing an increase of 15% over 2010 figures. Interest in the company was high, with Nestle having to fend off interest from Danone by increasing its offer.
Pfizer Nutrition general manager Amy Schulman said, "The transaction is a testament to the success of the Nutrition business, including its excellent reputation, talented colleagues, high-quality products and market reach."
Pfizer chairman and
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