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OFFON

KKR & CO. INC.

(KKR)
  Report
Delayed Quote. Delayed Nyse - 06/11 04:10:00 pm
56.5 USD   +0.86%
06/11CITá : to Sell Aviation Loan Portfolio to KKR
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Nestle to Buy Bountiful Company's Core Brands for $5.75 Billion -- Update

04/30/2021 | 04:32am EDT

By Giulia Petroni and Pietro Lombardi

Nestle SA has agreed to buy vitamin maker The Bountiful Company's core brands for $5.75 billion excluding debt, in a step to expand its leadership in nutritional offerings as demand for immunity boosters surges world-wide.

The Swiss food-and-beverage giant said Friday that the deal with private equity firm KKR & Co., majority owner of Bountiful, includes vitamins, minerals and supplement brands like Nature's Bounty, Solgar, Osteo Bi-Flex and Puritan's Pride. Bountiful's sports and active-nutrition brands aren't included.

Nestle has previously indicated that it aims to make bigger acquisitions in high-growth categories this year, the nutrition area being a priority as wellness becomes more important to consumers. Until now, Nestle has had limited presence in vitamins.

In a filing for an initial public offering earlier this month, Bountiful called itself the largest pure-play nutrition company in North America and one of three largest in the world.

Sales of the acquired brands amounted to $1.87 billion in the last 12 months ending March 31, Nestle said. The transaction was valued on a cash free, debt free basis, according to the company.

Nestle added that its underlying trading operating profit margin will be hurt by one-off integration costs in 2021, but margin is expected to increase above average by 2024.

The deal is scheduled to close in the second half of the year, subject to customary conditions and regulatory clearance.

Write to Giulia Petroni at giulia.petroni@wsj.com and Pietro Lombardi at pietro.lombardi@wsj.com

(END) Dow Jones Newswires

04-30-21 0632ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.04% 34479.6 Delayed Quote.12.61%
KKR & CO. INC. 0.86% 56.5 Delayed Quote.39.54%
NESTLÉ S.A. 0.07% 113.82 Delayed Quote.9.17%
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Financials (USD)
Sales 2021 2 572 M - -
Net income 2021 3 048 M - -
Net Debt 2021 9 462 M - -
P/E ratio 2021 10,8x
Yield 2021 1,03%
Capitalization 32 870 M 32 870 M -
EV / Sales 2021 16,5x
EV / Sales 2022 12,9x
Nbr of Employees 1 583
Free-Float 92,0%
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Technical analysis trends KKR & CO. INC.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 65,40 $
Last Close Price 56,50 $
Spread / Highest target 29,2%
Spread / Average Target 15,8%
Spread / Lowest Target 2,65%
EPS Revisions
Managers and Directors
NameTitle
Henry R. Kravis Co-Chairman & Co-Chief Executive Officer
George Rosenberg Roberts Co-Chairman & Co-Chief Executive Officer
Joseph Yong Bum Bae Co-President, Co-COO & Director
Scott Charles Nuttall Co-President, Co-COO & Director
Robert H. Lewin Chief Financial Officer
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