A manufacturer vitamins, supplements, and mineral for nutritional health, Atrium Innovations, is set to be acquired by Nestle for $2.3 billion, expanding the Swiss-owned firm’s consumer healthcare portfolio, the companies announced in separate press releases Tuesday.
“[Atrium’s] brands are a natural complement to our Consumer Care portfolio, which offers nutritional solutions such as probiotics, plant-based protein nutrition, meal replacements, and an extensive multivitamin line, enabling consumers to address their health and wellness cgoals,” said Greg Behar, chief executive officer of Nestle Health Science, in a statement.
Known for brands like Garden of Life non-GMO supplements and Pure Encapsulations hypoallergenic nutritional supplements, Atrium will become a part of the Nestle Health Science unit.
The firm’s “established brands are in attractive categories and have the potential for continued strong growth as part of Nestle through category, channel, and geographic expansion. It also represents additional offerings in the segment for non-GMO, organic, and natural supplements, a fast-growing consumer trend, as well as a new sales channel,” said Behar.
Founded in 1999, Quebec-based Atrium’s sales in 2017 are expected to reach about $700 million, Nestle said. The companies expect the transaction to close in the first quarter of 2018 pending regulatory approvals and other conditions associated with closing.