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Nestle gets board nod for Speciality
8 December 2009: Nestle India is likely to acquire the healthcare nutrition business of Speciality Food India. The Board of Nestle India has approved the acquisition of the healthcare nutrition business of Speciality Food India, effective from 1 January 2010.
The Rs 29-crore Speciality Foods is a 100 per cent subsidiary of Swtizerland, Vevy based Nestle SA. Nestle had acquired these brands after it bought the medical nutrition business of Novartis AG in 2006.
Speciality Foods sells nutritional brands like Resource, Optifast and Spert. Resource addresses malnutrition, Optifast is for those with excess weight and Spert is a protein supplement.
The proposed acquisition marks the formal entry of the company in the specialised health nutrition space.
Source: Economic Times