Nestle Health Science acquires stake in Vital Foods
July 14, 2011
VEVEY, SWITZERLAND — Nestle Health Science has acquired a minority stake in Vital Foods. Vital Foods is based in New Zealand and develops kiwifruit-based products to help gastrointestinal conditions.
“We are very pleased to have a stake in Vital Foods,” said Luis Cantarell, president and chief executive officer of Nestle Health Science. “Their products align strongly with Nestle Health Science’s commitment to science-based nutritional solutions for gastrointestinal health.”
Vital Foods was established in 1991 and has Kiwi Crush and Phloe products on the market. Nestle said the acquisition gives it representation on the board of Vital Foods, which will provide the opportunity to help in future product development as well as commercial strategy.
“We are excited to have Nestle Health Science as a strategic investor in Vital Foods,” said Gursh Bindra, chief executive officer of Vital Foods. “We look forward to working with Nestle Health Science to further develop our product range.”
Terms of the transaction were not released.