Nestlé talks to buy Bountiful Company

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Nestlé is in talks to buy the company behind Nature’s Bounty vitamins and minerals in what would be the Swiss food group’s latest multimillion-dollar deal to reform its portfolio.

The group behind the KitKat chocolate bars and Nescafé coffee said on Monday that it was in discussions to acquire The Bountiful Company, which is backed by private equity group KKR and is preparing a float.

“Nestlé SA announced today that it is in discussions to fully or partially acquire The Bountiful Company,” the company said in a single-line statement, confirming a Wall Street Journal report last week.

KKR had planned to value Bountiful for more than $ 6 billion in an initial public offering, Bloomberg News reported in January.

Nestlé has sold less profitable parts of its portfolio and has been digging deeper health and nutrition under executive director Mark Schneider.

Its provisions included an agreement reached this year to sell several US and Canadian bottled water marks for $ 4.3 billion to private equity firm One Rock Capital Partners and Metropoulos.

Nestlé, along with consumer goods rivals like Reckitt Benckiser, has been adding its health interests at the same time. Shortly after Schneider took over in 2017, Nestlé bought Canadian supplement maker Atrium Innovations on a $ 2.3 billion deal.

Vitamin and mineral supplements have it sells particularly well during the coronavirus pandemic as consumers turned to products they hoped could improve overall well-being and boost immunity.

The trend helped propel Nestlé last week to the fastest quarterly sales growth in a decade, with results driven by other consumption habits, such as drinking coffee at home.

Bountiful sells a range of health products, including supplements, probiotics and multivitamins. The New Island-based Long Island-based company produced net sales of more than $ 2 billion a year through the end of September.

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