Reutersstates that the company is looking to move further into the health and nutrition sector, which is growing faster than its traditional packaged food business, and notes that the acquisition would fit with the M&A strategy of Chief Executive Mark Schneider, who has targeted several health companies since taking charge at Nestle in 2016.
Related: The Nature’s Bounty Co. Rebrands as The Bountiful Company
In 2020, The Bountiful Company had sales of $2.07 billion, 10% higher than the previous year. In 2019, pre-pandemic, Nestle’s sales only increased by 1.2%, Reuters reports.TheWall Street Journalnotes that Nestle has minimal presence in vitamins, with its health-oriented brands including Boost nutritional drinks. It sold its North American water business in February, and signed a deal to purchase Essentia Water in March.
Nestle’s press release confirming that talks were in progress offered no details on the matter.
Related: Nestlé Acquires Alkaline Water Brand M&A Update: Vitamin Discount Center Acquired by reCommerce Unilever to Acquire Onnit
