Sector News

Nestle said examining takeover of Mead Johnson – Source

January 20, 2017
Food & Drink

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

comments closed

Related News

January 29, 2023

Danone appoints three new deputy CEOs

Food & Drink

Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.

January 29, 2023

PepsiCo Portugal invests €7.5m in biodigester

Food & Drink

PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.

January 29, 2023

Kerry’s fellowship with Upcycled Food Foundation explores future of food waste prevention

Food & Drink

Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.

How can we help you?

We're easy to reach