Nestle Takes Stake in Childhood Food Allergy Company Before Brands
September 26 2019 - 11:02AM
Dow Jones News
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.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 26, 2019 10:47 ET (14:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Nestle (PK) (USOTC:NSRGY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nestle (PK) (USOTC:NSRGY)
Historical Stock Chart
From Sep 2023 to Sep 2024