Nestlé’s plant-based portfolio is growing a little larger, as the legacy brand has entered a strategic deal. The company’s Health Science unit will be acquiring Brazil-based maker Puravida.
"This is a great opportunity for us to expand our presence in a sector that is growing globally…an important step toward advancing in promising market segments that add innovation and technology to our nutrition know-how," Nestle's Chief Executive in Brazil, Marcelo Melchior, said.
According to Reuters, the Puravida portfolio complements Nestlé’s already diverse range of products. Adding to its nutritional supplement and protein powder offerings, the brand will now be venturing into local health science in Brazil.
Financial details of the deal, which is expected to close in the second half of this year, were not disclosed.
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