Swiss food giant Nestle announced on Monday that it has completed the acquisition of Gerber, the largest producer of baby food in the U.S., valued at $5.5 billion.
According to its statement, the acquisition took effect on September 1, following regulatory approval."This is a key step in transforming Nestle into a leading global company focused on nutrition and health. The group thus secures the number one position in the largest single market for baby food – the U.S. – and strengthens Nestle Nutrition’s position as a global leader in this sector", the statement further adds. Nestle announced the agreement to purchase Gerber from the Swiss pharmaceutical group Novartis in April, aiming to secure the acquisition of Gerber’s 79% share in the U.S., which is also the largest baby food market in the world. (H)
