NSRGY - Nestle to acquire Brazilian foodtech Puravida: Reuters

Nestle SA (OTCPK:NSRGY) +1.5% on Monday said its Nestle Health Science unit has reached a deal to acquire Brazilian plant-based food maker Puravida, Reuters reported. The Swiss company said that it sees Puravida's portfolio as complementary to its own, noting it already sells nutritional supplements and protein powders in Brazil and will now be able to expand its local health science business. Financial details of the transaction remain undisclosed. Founded in Sao Paulo in 2015, Puravida also produces "clean label" nutritional food. It received investment from private equity firm Aqua Capital in 2020. "This is a great opportunity for us to expand our presence in a sector that is growing globally ... an important step towards advancing in promising market segments that add innovation and technology to our nutrition know-how," Nestle's chief executive in Brazil, Marcelo Melchior, said. The deal is expected to close in H2 2022 subject to approval required from

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Nestle to acquire Brazilian foodtech Puravida: Reuters