Nestle SA is in exclusive talks with a consortium led by private equity firm EQT Partners for a sale of its skin health unit, according to a source familiar with the matter.
EQT is putting the finishing touches to the deal, which would value the unit at up to $10 billion and could be signed in the next 24 hours, the source said.
Nestle and EQT declined to comment. The Financial Times reported about the deal talks earlier in the day.
By Pamela Barbaglia and Maria Ponnezhath
Source: Reuters
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.
