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, 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, president and c.e.o. of Atrium Innovations|