Nestle to buy maker of nutritional health products

by Jeff Gelski
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Garden of Life supplements, Atrium Innovations, Nestle
Atrium Innovation’s largest brand, Garden of Life, is the No. 1 brand in the U.S. natural supplement industry.
 

VEVEY, SWITZERLAND — Nestle S.A. has agreed to acquire privately held Atrium Innovations, a global leader in nutritional health products, for $2.3 billion in cash from a group of investors led by Permira Funds, an international investment firm. The transaction should extend Nestle’s consumer health care portfolio.

Atrium Innovation’s 2017 sales are expected to near $700 million. The company’s largest brand, Garden of Life, is the No. 1 brand in the natural supplement industry in the United States, according to Vevey-based Nestle. Atrium Innovation has seven manufacturing facilities located in the United States, Canada, Europe and Argentina. Garden of Life, based in Palm Beach Gardens, Fla., manufactures certified organic, non-G.M.O. supplements that are sold in more than 14,000 health food stores and on-line in the United States, as well as select markets internationally.

Greg Behar, Nestle
Greg Behar, c.e.o. of Nestle Health Science

“We value Atrium’s history as a highly successful company and welcome its 1,400 employees to the Nestle family,” said Greg Behar, chief executive officer of Nestle Health Science, when the deal was announced Dec. 5. “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.”

The transaction should close in the first quarter of 2018. Montreal-based Atrium Innovations will become part of Nestle Health Science. Peter Luther, president and c.e.o. of Atrium Innovations, will continue to lead the management team.

Peter Luther, Atrium Innovations
Peter Luther, president and c.e.o. of Atrium Innovations
“We are very pleased to be joining Nestle Health Science as we share a common purpose of helping people lead healthier lives by providing good-for-you products made with the highest standards for quality and efficacy,” Mr. Luther said. “Nestle will provide Atrium with the resources to accelerate the growth of our brands and reach more people globally.” 
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READER COMMENTS (2)

By Gaurav Patel 12/6/2017 3:54:27 PM

By Gaurav 12/6/2017 3:53:33 PM
FYI...