Nestle is among the potential suitors exploring an acquisition of Hain Celestial, Bloomberg wrote earlier Monday.
The owner of Health Valley cereal and Terra chips has been working with Centerview Partners to explore a strategic review that could include a sale.
Nestle has had conversations about buying the company as a whole or in parts, Bloomberg said.
Hain’s strategic review comes after a fight with activist investor Engaged Capital that led to changes in its board.
Shares of Hain, which has a market capitalization of $4.3 billion, spiked 7 percent before being halted in afternoon trading. After resuming trade, Hain shares ended the day 2.6 percent higher at $40.89.
By Lauren Hirsch
The global snacking, international cereal and noodles, plant-based foods and North American frozen breakfast business will be known as Kellanova – home to brands such as Pringles, MorningStar Farms and Nutri-Grain. Kellanova’s portfolio will also encompass cereal brands, including Frosties, Special K, Krave and Coco Pops.
Nestlé is piloting refillable vending machines for its Milo and Koko Krunch brands as part of its effort to explore solutions that help to reduce the need for disposable packaging. In collaboration with digital start-up Qyos by Algramo, the machines will be available at two retailers in Indonesia during a 4-6 month trial period.
Carlsberg has announced that Jacob Aarup-Andersen will join the company as chief executive officer, replacing Cees ’t Hart, who will retire by the end of Q3 2023. Since 2020, Aarup-Andersen has served as CEO of ISS, a global facility services company that operates in 60 countries.