Nestle Buys Majority Stake in Plant-Based Foods Company

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Vevey, Switzerland — Nestle has bought a majority stake in Terrafertil, a company selling natural and organic plant-based foods, the company announced on Friday. Price was not disclosed.

Terrafertil is an Ecuadorian company, founded in 2005, which has expanded through South America and Britain and into the U.S. It grows and produces goldenberries—a fruit packed with vitamin A, vitamin B, fiber, and iron.

The deal, first reported by Reuters, is part of Nestle’s continued efforts through acquisitions and divestitures to shift its profile into healthy foods. Nestle bought Atrium Innovations for $2.3 billion last December and sold its U.S. candy business to Ferrero for $2.8 billion. The company has been rumored to be looking at the consumer health businesses of both Pfizer and Merck, which are on the market.

“This investment allows us to strengthen our presence in fast-growing categories such as plant-based foods, beverages, and healthy snacks, known as ‘superfoods’ due to their high natural nutrient content,” said Laurent Freie, CEO, Nestle Zone Americas, in a statement. “Terrafertil will continue to be managed by its founders. It will operate as a stand-alone entity, to leverage its unique corporate culture including entrepreneurial spirit, agility and flexibility.”

“Nestlé brings several benefits and synergies. Beyond expanding our presence and distribution around the world, we will capitalize on its experience in areas such as Research and Development, marketing knowledge, and operational efficiencies,” said the Bermeo brothers, Founding Partners of Terrafertil. “Above all, we share Nestlé’s commitment to society, to the communities where it operates and the environment.”

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