Atrium Innovations, a Canada-based health products firm, is to be acquired by Swiss FMCG giant Nestle for $2.3 billion in cash.
The firm, which describes itself as “a world-wide leader in nutritional supplements and one of the fastest growing companies in the industry globally”,will be acquired by Nestle from a group of investors including a company backed by the Permira Funds, Fonds de Solidarite FTQ and Caisse De Depot Et Placement Du Quebec.
The Atrium Innovations brand portfolio includes Garden of Life, Pure Encapsulations, Wobenzym, Douglas Laboratories, Genestra Brands, Orthica, AOV, Minami Klean Athlete, Pharmax and Trophic. Atrium Innovation also distributes the UNDA and Wild Rose brands.
Upon closing, the firm said it would continue to operate as it had prior to the acquisition, with no changes to its brands or primary locations globally. Atrium Innovations currently has over 1,400 employees and operates seven manufacturing facilities.
Commenting on the deal, Atrium Innovations president and CEO Peter Luther said: “We are very pleased to be joining Nestlé Health Science as we share a common purpose of helping people lead healthier lives by providing good-for-you products that are made with the highest standards for quality and efficacy. Nestlé will provide Atrium with the resources to continue the strong growth of our brands and reach more people globally”.