Nestle completes acquisition of Pfizer Nutrition

The Swiss food giant Nestlé today completed its USD 11.85 billion acquisition of the U.S. baby food manufacturer Pfizer Nutrition, the company said in a release.

The integration process of Pfizer Nutrition into Nestlé Nutrition is underway. As a result, around 4,500 employees of Pfizer Nutrition will join the Nestlé Group.

According to the Swiss firm, Pfizer Nutrition's strong brands and product portfolio, together with its geographic presence, complements Nestlé's Infant Nutrition business. Around 85 percent of its sales are in emerging markets, many of them with large, fast-growing populations.

- Building on our growth-focused strategy, global presence and pioneering research and development, the newly enlarged business will enhance our ability to become parents' trusted partner, offering them a wider choice of nutritious food to ensure their children make a healthy start to a healthy life - reads the release.

Through this deal, Nestle intends to combine Pfizer-owned infant formula brands such as S-26 Gold, SMA, and Promil with its existing portfolio that includes Nan, Gerber, Lactogen, Nestogen and Cerelac infant cereal.