Company’s founder and Butterfly Equity will continue to be minority share owners in the protein-based shakes, powders and snacks enterprise

Vevey, Switzerland-based Nestlé Health Science has agreed to purchase a majority stake in Orgain, a plant-based nutrition company, from its founder and Butterfly Equity, which continue to be minority share owners.

Orgain was founded in 2009 in California by its chief executive Dr Andrew Abraham, an integrative medicine specialist and cancer survivor, who developed protein-based shakes, powders and snacks.

Greg Behar, chief executive of Nestlé Health Science, said: “Nutritional protein plays a key role in supporting our health and wellness, whether we enjoy an active lifestyle or are facing health challenges. Orgain’s emphasis on clean, all natural, plant-based, organic ingredients has made it a leader in the US, and we look forward to combining our companies’ expertise to bring Orgain to more people around the world.”

Abraham added: “As someone who has experienced the power of clean, protein-based nutrition, and as a physician, it’s been important for me to help as many people as possible to live their most vibrant lives. We’ve worked hard to develop innovative products that make a real difference in consumers’ lives, and now through Nestlé Health Science’s capabilities, resources and dedication to nutrition, we will be able to reach more people around the world.”

Abraham will continue as chief executive of Orgain. The deal is expected to be slightly accretive to Nestlé’s organic growth, while slightly dilutive to the group’s underlying trading profit margin this year. The agreement includes the option for Nestlé Health Science to acquire Orgain fully in 2024.

Date published: 7 February 2022

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