Pharmaceutical giant Pfizer will sell its nutrition business to Nestlé in an $11.85 billion cash deal that will help the Swiss food company expand its reach in the global market for baby food.
Pfizer’s nutrition unit, which includes formulas for infants and toddlers as well as maternal and adult nutrition products, had approximately $2.1 billion in revenues in 2011, a 15 percent increase from 2010. Its products include formulas S-26 Gold, SMA and Promil.
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