Nestle completes acquisition of Pfizer Nutrition
Nestle has completed the acquisition of Pfizer's Nutrition business.
Swiss food products giant Nestle has announced the completion of its acquisition of Pfizer Nutrition, for a sum of $11.85 billion (£7.38 billion).
The conclusion of the process has paved the way for the integration of Pfizer Nutrition into Nestle, which includes the transfer of 4,500 employees.
Nestle stated that the acquisition complements its existing infant nutrition business, noting the potential for growth as 85 per cent of Pfizer Nutrition sales are in emerging markets.
Companies seeking to make acquisitions that can build on existing customer bases may find merger and acquisition consultants can play a key role in helping complete transactions that will create growth and a wider market reach.
Regulatory consent for the Nestle-Pfizer deal has been given in Australia, although it is still awaited in Kenya, South Africa and five countries in Latin America.
Mexico is one Latin American country where any agreement may require a lot of further work, as the country's Federal Competition Commission voted against it.
However, the company can appeal the decision.