Nestle sells supplements business for $1bn

ZURICH: Nestle will sell its mainstream vitamins, minerals and supplements business to US private equity firm Yellow Wood Partners for $1 billion, the Swiss food giant said in a statement on Tuesday.

It said the transaction would allow it to focus resources on areas where it has the “strongest competitive advantage”.

CEO Philipp Navratil in the statement called it “another important step in the strategic transformation of our portfolio”.

The sale covers Nestle’s consumer-focused vitamins, minerals and supplements activities.

The group said it remained well positioned in the premium segment of the category, but the mainstream business “requires a different approach under dedicated........

© Dawn Business