In a bid to bolster its growing consumer healthcare portfolio, Nestlé has acquired Atrium Innovations in a $2.3 billion deal.
Nestlé said the deal supports its hunger for growth in consumer healthcare space, and complements its ongoing efforts to focus on high-growth food and beverage categories.
Headquartered in Quebec, Atrium will now become part of Nestlé Health Science. The existing management team, led by President and CEO Peter Luther, will continue to manage the business.
“Atrium’s portfolio will extend our product range with value-added solutions such as probiotics, plant-based protein nutrition, meal replacements and an extensive multivitamin line, enabling consumers to address their health and wellness goals,” said Nestlé Health Science CEO Greg Behar.
Behar added that the deal grants the company additional offerings in the flourishing non-GMP, organic and natural supplements categories with the addition of Atrium’s largest brand, Garden of Life.
Headquartered in Florida, Garden of Life manufactures certified organic, non-GMO supplements that are sold in more than 14,000 health food stores and online in the US, as well as select markets internationally.