Health nut

31 August 2020 By Dasha Afanasieva Follow @dasha_reuters

The $348 bln Swiss giant is buying allergy treatment firm Aimmune. It makes the first approved product for food allergies to the nut. The ingredient isn’t prominent in its portfolio, so CEO Mark Schneider will essentially get a lift from making rivals’ products more accessible.

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Nestlé has agreed to buy food allergy treatment maker Aimmune Therapeutics, giving it an enterprise value of $2.6 billion, the $348 billion Swiss food giant said on Aug. 31. Nestlé’s health science division already invested $473 million in Aimmune, giving it around 26% of the equity.

The $34.50 per share acquisition price represents a 174% premium to Aimmune's closing share price on Aug. 28 of $12.60.

Nestlé will finance the deal, which is expected to close in the fourth quarter of 2020, with cash.

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