Zurich\/New Delhi, April 23: <\/p>\n
Nestle has agreed to acquire Pfizer Inc infant nutrition business for $11.85 billion, a move that will enhance Swiss food giants position in emerging markets. <\/p>\n
Both the companies have significant presence in India. <\/p>\n
In a strategic move to enhance its position in global infant nutrition, Nestle has agreed to acquire Pfizer Nutrition for $11.85 billion, Nestle said in a statement today. <\/p>\n
Pfizer Nutrition generates 85 per cent of its sales from emerging markets, many of them with large, fast-growing population. <\/p>\n
Pfizer Nutrition is an excellent strategic fit and this acquisition underlines our commitment to be the worlds leading nutrition, health and wellness company, Nestle CEO, Mr Paul Bulcke, said in a statement. <\/p>\n
The combined entities will enable us to deepen our engagement with consumers, offering them a wider choice of nutritious food to ensure their children make a healthy start to a healthy life, he added. <\/p>\n
The Switzerland-based firm said that transaction is subject to regulatory approval. <\/p>\n
Nestle estimates that Pfizer Nutritions sales would reach about $2.4 billion in 2012. <\/p>\n
We will be able to combine well-known brands like S-26 Gold, SMA and Promil with our existing portfolio of trusted and successful brands such as Nan, Gerber, Lactogen, Nestogen and Cerelac infant cereal, Nestle said. <\/p>\n<\/p>\n
View original post here: Zurich\/New Delhi, April 23: Nestle has agreed to acquire Pfizer Inc infant nutrition business for $11.85 billion, a move that will enhance Swiss food giants position in emerging markets. Both the companies have significant presence in India. Continue reading
\nNestle to buy Pfizer\u00e2\u20ac\u2122s infant nutrition biz for $11.8 b<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"