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    NESN   CH0038863350

NESTLÉ S.A.

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Nestle S A : buys vitamin maker Bountiful's main brands for $5.75 bln

04/30/2021 | 01:50am EDT

ZURICH, April 30 (Reuters) - Nestle has bought the main brands of vitamin and supplements maker The Bountiful Company for $5.75 billion, the world's largest packaged food company said on Friday, the latest expansion of its health and nutrition business.

The KitKat chocolate bar maker bought Bountiful from KKR in a deal which covers the U.S. company's Nature's Bounty, Solgar, Osteo Bi-Flex and Puritan's Pride brands. Nestle had flagged talks on Monday.

The deal, expected to be completed during the second half of this year, did not include the sports and active nutrition brands Pure Protein, Body Fortress and MET-Rx, as well as Dr.Organic and the Canadian over-the-counter business, which did not fit with the rest of Nestle Health Science business.

"This acquisition complements our existing health and nutrition portfolio in terms of brands and channels," said Greg Behar, CEO of Nestle Health Science.

"It will establish Nestle Health Science as the industry leader in mass retail, specialty retail, e-commerce and direct-to-consumer in the U.S., while offering significant opportunities for geographic growth," he added.

Nestle is paying 3.1 times the value of Bountiful's sales for the brands, and a multiple of 16.8 times of their earnings before interest before tax, depreciation and amortisation (EBITDA).

The acquired brands had sales of $1.87 billion in the year to March 2021, with an EBITDA margin of 18.3%. The margin is expected to increase above the Nestle Group average once synergies are fully implemented by 2024, the Swiss company said.

(Reporting by John Revill Editing by Riham Alkousaa and Caroline Copley)


© Reuters 2021
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Financials
Sales 2021 85 531 M 94 853 M 94 853 M
Net income 2021 12 012 M 13 322 M 13 322 M
Net Debt 2021 32 685 M 36 248 M 36 248 M
P/E ratio 2021 25,4x
Yield 2021 2,62%
Capitalization 307 B 339 B 340 B
EV / Sales 2021 3,97x
EV / Sales 2022 3,85x
Nbr of Employees 273 000
Free-Float 97,7%
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Number of Analysts 28
Average target price 117,76 CHF
Last Close Price 108,84 CHF
Spread / Highest target 20,4%
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Spread / Lowest Target -10,9%
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Ulf Mark Schneider Chief Executive Officer & Director
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Paul Bulcke Chairman
Stefan Palzer Chief Technology Officer & Executive VP
Magdi Batato Head-Operations & Executive Vice President
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