FDBusiness.com

Following the successful conclusion of the regulatory process in most markets, Nestle has completed its $11.85 billion acquisition of Pfizer Nutrition. The integration process will see approximately 4,500 employees of Pfizer Nutrition join the Nestle Group.

Pfizer Nutrition’s strong brands and product portfolio, together with its geographic presence, complements Nestle’s Infant Nutrition business. 85% of its sales are in emerging markets, many of them with large, fast-growing populations. Building on its growth-focused strategy, global presence and pioneering research and development, the newly enlarged business will enhance Nestle’s ability to become parents’ trusted partner, offering them a wider choice of nutritious food to ensure their children make a healthy start to a healthy life.

In Australia, Nestlé’s remedy commitments, which are not material in the overall context of the transaction, have satisfied the regulators. The regulatory approval process is still underway in Kenya, South Africa and five Latin American countries. Nestle is continueing to review its strategic options in those countries.