Switzerland—Nestle has confirmed that it is in talks to buy The Bountiful Company, whic offers a portfolio of brands Nature’s Bounty, Osteo Bi-Flex, Puritan’s Pride, and Solgar.
Reuters states 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.
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.
The Wall Street Journal notes 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.