NSRGY - Nestle said near purchase of protein powder maker Orgain

Nestle SA (OTCPK:NSRGY) is said near an agreement to purchase a majority stake in protein powder maker Orgain. A deal for Orgain may announced as soon as today, according to traders, who cited a Bloomberg report. Butterfly Equity, which owns Orgain, began considering a sale or initial public offering of the company last year, which valued the company at about $2B at the time, according to a previous  Bloomberg report. Butterfly agreed to acquire Orgain in November 2019. Orgain makes  meal replacement shakes, protein powders and snack bars for adults and kids. Recall December, Nestlé to trim L'Oreal stake by selling back $10B of shares.

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Nestle said near purchase of protein powder maker Orgain