Nestle Health Science Acquires a Stake in Vital Foods
Nestle Health Science has acquired a minority stake in Vital Foods, a New Zealand-based company that specialises in the development of kiwifruit-based solutions for gastrointestinal conditions. The terms of the transaction were not being disclosed. This follows the acquisitions made in the last 12 months of Vitaflo, CM&D Pharma and Prometheus Laboratories.
Created in 1991, Vital Foods has two well-established products on the market in New Zealand, Kiwi Crush and Phloe. Both products are based on a natural kiwifruit extract, and have been clinically shown to be effective against constipation. Constipation is a common functional disorder of the gastrointestinal tract, affecting around 1 in 6 people in the general adult population in Oceania, Europe and the US.
The transaction gives Nestle Health Science a seat on the Board of Vital Foods, providing the opportunity to help steer future product development as well as commercial strategy. The deal is in line with Nestlé Health Science’s commitment to science-based nutritional solutions for gastrointestinal health.
Nestle Health Science has also announced the completion of its acquisition of Prometheus Laboratories, a company that specialises in diagnostics and in-licensed specialty pharmaceuticals in gastroenterology and oncology. Prometheus’s diagnostics platform enables Nestle Health Science’s nutritional solutions to be an integral part of patient care from diagnostics to disease management.
