Nestlé extends consumer healthcare portfolio by agreeing to acquire Atrium Innovations

Vevey, 5 December 2017

Nestlé extends consumer healthcare portfolio by agreeing to acquire Atrium Innovations

Nestlé today announced that it agreed to acquire privately-held Atrium Innovations, a global leader in nutritional health products, from a group of investors led by Permira Funds for USD 2.3 billion in cash. Atrium's 2017 sales are expected to reach almost USD 700 million.

The move supports Nestlé's pursuit of growth opportunities in consumer healthcare to complement the company's focus on its high-growth food and beverage categories. The transaction is expected to close in the first quarter of 2018 following the completion of customary approvals and closing conditions.

Upon closing, Atrium, with its corporate offices in Quebec, Canada, will become part of Nestlé Health Science. Its existing management team will continue to manage the business, led by Peter Luther, Atrium Innovations President and Chief Executive Officer.

Greg Behar, Nestlé Health Science Chief Executive Officer said: "We value Atrium's history as a highly successful company and welcome its 1,400 employees to the Nestlé family. Their brands are a natural complement to our Consumer Care portfolio, which offers nutritional solutions in the areas of Healthy Aging, Healthy Growing, Gut Health and Obesity Care. Atrium's portfolio will extend our product range with value-added solutions such as probiotics, plant-based protein nutrition, meal replacements and an extensive multivitamin line, enabling consumers to address their health and wellness goals."

Behar added, "Atrium's established brands are in attractive categories and have the potential for continued strong growth as part of Nestlé through category, channel and geographic expansion. It also represents additional offerings in the segment for non-GMO, organic and natural supplements, a fast-growing consumer trend, as well as a new sales channel."