Swiss packaged food giant Nestle is interested in acquiring Mead Johnson (NYSE: MJN), an Illinois-based company that manufactures and sells infant formulas or other nutritional products, according to a person claiming to have knowledge of the matter.
Credit Suisse is advising on the potential deal, and if talks go smoothly a transaction could be announced before March, the person said.
Mead Johnson has an enterprise value of roughly $14.5 billion, and it is seen as among a handful of companies that stand at the nexus of a major consolidation wave in consumer staples, especially in packaged food. Chatter about a potential takeover has been around since last March, several months before Danone’s proposed $12.5 billion takeover of peer WhiteWave was announced. At the time, Danone and Nestle were both mentioned as potential suitors for Mead Johnson.
A representative for Nestle said it doesn’t comment on rumors as a matter of principle. Mead Johnson didn’t respond to a request to comment.
Source: Street Insider
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Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
