Nestle (Malaysia) Bhd has confirmed its 100% acquisition of Wyeth Nutrition (M) Sdn Bhd for RM165 million (US$36.8 million).
Nestle Malaysia said the acquisition from Wyeth (Hong Kong) Holding Company Ltd will allow Nestle to further expand the group’s business in the nutrition category.
In a statement, Nestle said, “This acquisition will provide Nestle Malaysia with immediate access to Wyeth Malaysia’s business and network, which is expected to enable it to expand its product offerings and increase market share in the nutrition segment.”
Wyeth Malaysia distributes premium nutritional products designed to meet the needs of young children, pregnant and lactating mothers and the elderly. The brands owned by the firm include S-26, S-26 Gold, Ascenda, Promama and Enercal Plus.
Nestle Malaysia said the acquisition was deemed a related party transaction as Nestle SA, which owns a 72.61% direct equity interest in Nestle Malaysia, was also the immediate holding company of Wyeth (Hong Kong).