ZURICH - Nestle said Tuesday it would acquire Canadian vitamin maker Atrium Innovations for $2.3 billion (R30.98 billion) as the Swiss food giant continues to expand into consumer health products.
Founded in 1999, Atrium Innovations focuses on nutritional supplements and has a number of brands including Garden of Life.
The firm, which employs 1,400 people, is expected to hit $700 million in sales this year.
"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 Greg Behar, chief executive of Nestle's Health Science unit that will absorb the Canadian firm.
Nestle has begun to reposition itself since Ulf Mark Schneider, who previously headed up German healthcare group Fresenius, took over the reins of the Swiss firm at the start of the year.
Nestle has indicated it doesn't exclude selling its US candy business and has snapped up companies that make vegetarian meals and luxury coffee.