Nestle S.a. (PC) (USOTC:NSRGY)
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1 Month : From Sep 2019 to Oct 2019
By Colin Kellaher
Swiss food giant Nestle SA (NESN.EB) has taken an equity stake in Before Brands Inc., which specializes in early childhood food allergy prevention, with an option to buy the rest of the company, Before Brands said Thursday.
As part of the deal, Nestle acquired the exclusive licensing rights to Before Brands' products, including its SpoonfulOne line of pediatric nutritional products, outside the U.S.
Financial details weren't disclosed.
Before Brands said SpoonfulOne, which is designed to train a child's immune system to get accustomed to foods responsible for more than 90% of food allergies, will be available outside the U.S. in the second half of 2020. The products are currently sold in the U.S. on its website and through Amazon.com Inc. (AMZN).
Nestle already sells the Althera, Alfare and Alfamino product lines targeting infant and childhood allergies.
Before Brands said Gurnet Point Capital invested alongside Nestle and remains a significant minority investor. Gurnet, a Cambridge, Mass., private-equity firm focused on healthcare, led prior financing rounds for the Menlo Park, Calif., company.
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(END) Dow Jones Newswires
September 26, 2019 10:47 ET (14:47 GMT)
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