VEVEY, Switzerland: Nestlé, the globe's largest food manufacturer, announced it has acquired Gerber Products Company - known primarily for its range of baby-food and baby-care products. The deal was sealed with $5.5 billion (€4.09bn; £2.78bn) in cash.
The Gerber brand was formerly owned by Swiss pharma giant Novartis.
Thanks to Gerber's strength stateside, the acquisition will greatly strengthen Nestlé's presence in the USA, as it also will elsewhere on the planet.
Data sourced from Wall Street Journal Online. additional content by WARC staff