Nestle To Buy Pfizer's Infant-Nutrition Line

Swiss food and drink giant Nestle announced a deal Monday to acquire Pfizer Inc.'s infant-nutrition business for $11.85 billion in a bid to boost sales in emerging markets. Before the announcement, Nestle already had the largest share of the global baby-formula market at just under 20 percent.

Copyright © 2012 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

RENEE MONTAGNE, HOST:

NPR's business news starts with an acquisition for Nestle.

(SOUNDBITE OF MUSIC)

MONTAGNE: Swiss food company Nestle announced today that it buy the infant nutrition business from the pharmaceutical company Pfizer. The move is likely aimed at boosting Nestle's presence in China. Nestle is paying just under $12 billion. It estimates 85 percent of this year's sales for that Pfizer unit will come from emerging markets. Before announcing this purchase, Nestle already had the largest share of the global baby-formula market at just under 20 percent.

Copyright © 2012 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.