Nestle acquires Britain's Vitaflo
GENEVA, SWITZERLAND: Food giant Nestle said on Monday, 2 August 2010, it had purchased for an undisclosed price British company Vitaflo, based in Liverpool, which makes food for people suffering from genetic metabolic problems.
"This strategic transaction allows Nestle to enter the fast-growing global market for clinical nutrition products tailor-made for people with inherited metabolic disorders," said the Swiss-based group.
Vitaflo posted double-digit growth of about 30% in the last three years, and generates annual sales of about 40 million francs (€29 million, US$38 million), said Nestle.
The specialised food maker's clients are those with genetic disorders which affect how food is processed by the body.
An estimated one in 2,500 to 50,000 babies are born with such problems, which persist up to adulthood, Nestle said.
Source: AFP