SAO PAULO Reuters - Nestle SA on Monday said its Nestle Health Science unit had reached a deal to acquire Brazilian organic, natural plant-based food maker Puravida.
The company said in a statement that it sees Puravida's portfolio as complementary to its own, noting that it already sells nutritional supplements and protein powders in Brazil and will be able to expand its local health science business.
Nestle's chief executive in Brazil, Marcelo Melchior, said this is a great opportunity to expand our presence in a sector that is growing globally and is an important step towards advancing in promising market segments that add innovation and technology to our nutrition know-how.
Puravida, a company that produces clean label nutritional food, was founded in Sao Paulo in 2015 and received investment from private equity firm Aqua Capital in 2020.
Nestle didn't reveal the financial details of the deal, which still requires approval from Brazil's antitrust watchdog CADE, and is expected to close in the second half of 2022.