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Nestle in US$2.6b deal for allergy treatment maker Aimmune

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Nestle SA agreed to buy Aimmune Therapeutics Inc in a US$2.6 billion deal, adding a leader in the prevention of peanut allergies as demand for mainstream consumer goods slows.

[ZURICH] Nestle SA agreed to buy Aimmune Therapeutics Inc in a US$2.6 billion deal, adding a leader in the prevention of peanut allergies as demand for mainstream consumer goods slows.

The Swiss owner of Nespresso will pay US$34.50 a share for the US biotech firm, a 174 per cent premium to the closing price on Friday. Nestle has been expanding its health science arm while shedding slower-growing businesses such as its US confectionery operations.

Aimmune's Palforzia is the only treatment approved by the US Food and Drug Administration to help reduce the frequency and severity of allergic reactions to peanuts in children aged 4 through 17, Nestle said in a statement.

Including a 26 per cent take that Nestle already holds in Aimmune, the deal has an enterprise value of about US$2.6 billion, the Swiss company said.

Nestle acquired Canadian supplements maker Atrium Innovations three years ago in a US$2.3 billion deal.

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