Brazil: Nestlé to bolster Health Science arm with supplement brand acquisition
Firm’s focus on its Health business continues following Q1 organic growth of 4.3%
Nestlé’s Health Science business has secured a deal to acquire Brazilian nutritional supplement company Puravida as it seeks to further expand its reach within the category.
Puravida produces organic plant-based foods and clean-label supplements. The brand was founded in 2015 and secured investment from Sao Paolo-based private equity firm Aqua Capital in 2020.
In a statement, Nestlé said the acquisition complemented its Health Science portfolio, and added to ranges already available in Brazil.
“[Through] Puravida’s acquisition, Nestlé Health Science will expand its range of brands in different categories and be able to reach consumers and patients with increased reliable, nutritious and high-quality products,” the statement said.
On the deal, CEO of Nestlé Brazil Marcelo Melchior said: “This is a great opportunity to expand our presence and contribute to our purpose of improving everyone’s quality of life, both today and for the future generations.”
Nestlé Health Science experienced annual organic growth of 4.3% in the first three months of 2022, driven by double-digit growth in medical nutrition.
Financial details of the deal were not disclosed although it is expected to close in H2 2022, subject to approval from Brazilian antitrust watchdog, the Administrative Council for Economic Defense (CADE).
Last month, Nestlé CEO Mark Schneider said the company was seeking acquisitions in the £1 billion to £10 billion range like Bountiful, a supplements and nutrition brand Nestlé bought for $5.75 billion in 2021.