Nestle to acquire Brazilian foodtech Puravida – Reuters

A logo is imagined during the 152nd Annual General Meeting of Nestle in Lausanne, Switzerland April 11, 2019. REUTERS/Denis BalibouseRegister now for FREE unlimited access to Reuters.comRegisterSAO PAULO, May 23 (Reuters) – Nestle SA (NESN.S) on Monday said its Nestle Health Science unit has reached an offer to get Brazilian organic, natural, plant-based food maker Puravida.The business said in a statement that it sees Puravidas portfolio as complementary to its own, noting it currently sells dietary supplements and protein powders in Brazil and will now be able to expand its regional health science business.”This is a great opportunity for us to expand our presence in a sector that is growing worldwide … a crucial action towards advancing in promising market sectors that include innovation and technology to our nutrition know-how,” Nestles president in Brazil, Marcelo Melchior, said.Puravida, which likewise produces “tidy label” nutritional food, was founded in Sao Paulo in 2015 and got investment from private equity firm Aqua Capital in 2020. Nestle did not reveal monetary information of the deal, which still requires approval from Brazils antitrust guard dog CADE and is expected to close in the 2nd half of 2022. Register now for FREE unlimited access to Reuters.comRegisterReporting by Alberto Alerigi Jr.; Writing by Gabriel Araujo; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Leave a Reply

Your email address will not be published.