Nestle India Ltd plans to acquire the healthcare nutritious business of Speciality Foods India Pvt Ltd.
The companies are deciding on the price for acquiring the business which had a total revenue of Rs 28.8 crore in March this year. The acquisition will be on effect from the beginning of next year.
The Chairman and Managing Director of the company, Antonio Helio Waszyk, said that the acquisition will further strengthen its leadership as a nutrition, health and wellness company.
Speciality Foods India Pvt Ltd is a subsidiary of Nestle India Ltd, a unit of the Swiss food giant. The product portfolio under the business is meant to satisfy the needs of consumers with special nutritional requirements and sold in India under brands like Resource, Optifast and Spert.
The company has appointed Bansi S. Mehta & Co., KPMG India and Amarchand Mangaldas as advisers on the deal.