Sector News

Nestlé Health Science to acquire majority stake in Vital Proteins

June 11, 2020
Food & Drink

Nestlé Health Science has agreed to acquire a majority stake in Vital Proteins, a producer of collagen-based beverages, food products and supplements.

US-based Vital Proteins’ product range includes collagen bars, waters and protein powders, with 150 SKUs sold in over 35,000 retailers.

According to Nestlé Health Science, Vital Proteins will operate as a standalone entity, while Kurt Seidensticker – the founder and CEO of Vital Proteins – will remain as the company’s CEO and will continue to lead the company.

Nestlé Health Science claims that the addition of Vital Proteins complements its existing range of vitamin, mineral, supplement and wellness brands, while Vital Proteins will now have access to a variety of resources to scale their reach and innovation in pursuit of global wellness.

Financial details of the transaction have not been disclosed by either company, and the acquisition is subject to regulatory approval.

Greg Behar, CEO of Nestlé Health Science, said: “This is an exciting opportunity for Nestlé Health Science to enter a growing area of nutrition with a successful brand.

“Our companies share the belief that nothing is more important than health, and everything we do is focused on that belief. In combining our efforts to optimize health through nutrition, we can achieve even more to help our consumers live fuller, more vibrant lives.”

Kurt Seidensticker, founder and CEO of Vital Proteins, added: “We at Vital Proteins, alongside Nestlé Health Science, are committed to expanding our wellness platform to the world. We are partnering together to continue the evolution of the functional nutrition space through premium products and innovation that meet customers where they are in their wellness journey.

“Joining Nestlé Health Science allows us to take Vital Proteins to the next level by leveraging resources, scale and capabilities, and moving toward a future with an expanded offering of science-backed products.”

Last year, Nestlé Health Science acquired childhood nutrition firm Before Brands, which specialises in early childhood food allergy prevention.

By: Martin Whiteon

Source: Food Bev Media

comments closed

Related News

June 24, 2022

Carlsberg announces resignation of CFO Heine Dalsgaard

Food & Drink

Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.

June 24, 2022

Kellogg to split into three companies, focus on snacks

Food & Drink

Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.

June 24, 2022

Mondelēz to buy energy bar company Clif Bar for $2.9bn

Food & Drink

The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.