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Nestle In Talks To Buy The Bountiful Co. Before IPO

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Swiss food giant Nestle on Monday confirmed that it was in talks to acquire “all or part of” The Bountiful Company. The maker of Nature’s Bounty vitamins is backed by private equity firm KKR & Co. and had been planning a U.S. initial public offering.

Nestle’s statement follows media speculation about such a deal, with The Wall Street Journal reporting on Friday that Nestle was looking at a mid-single-digit billion-dollar deal for The Bountiful Co.

KKR & Co. was said to have been planning an IPO valuing the firm at more than $6 billion, though an acquisition by Nestle could preempt the initial public offering, a person familiar with the matter said.

Nestle’s move comes four years after Schneider dove into the field of vitamins and supplements in his first year as CEO in 2017 with the $2.3 billion acquisition of Atrium Innovations Inc. Schneider has made more than 50 deals since he took over at the helm, disposing of lagging businesses like U.S. chocolate and mass-market bottled water, and folding Nestle’s ice cream brands into a joint venture there. He strengthened the Swiss company’s high-growth categories with smaller transactions in pet care and also splurged $7.15 billion on a deal to market Starbucks coffee products.

“This remains another example of how the company can manage via portfolio reshuffling its transition from coffee/pet to a more diverse mix in the coming years,” Citi analyst Cedric Besnard, wrote in a note.

A potential deal for Bountiful would accelerate Nestle’s strategy of buying larger brands of vitamins as it tries to gain pricing power and appeal to high-spending health-conscious consumers.

The approach has delivered, with Nestle last week reporting sales growth at double the pace analysts predicted. Supplements and minerals that boost the immune system are in high demand, and e-commerce has become an effective way to sell such products, the company said. Nestle Health Science’s revenue rose almost 10% in the first quarter on an adjusted basis.

Nestle shares have gained more than 70 percent since Schneider became CEO, and the company is worth more than $300 billion. The Shares of Nestle fell 0.8 percent in Zurich on Monday.

Bountiful sells a wide range of vitamins that are available in retail chains such as Walmart, CVS and Rite Aid. Supplements and vitamins are attractive targets during the pandemic, which has boosted demand for products that are advertised as helping consumers’ health and immune systems.

The company, whose brands also include Puritan’s Pride, filed registration documents for the listing earlier this month.

Big consumer-goods companies have increasingly been interested in the vitamins, minerals and supplements sector, and the area builds on Nestle’s desire to push more into healthy, medical nutrition and self-care trends, according to Bruno Monteyne, an analyst at Bernstein.

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International Breweries To Train 500 Young Entrepreneurs Through Kickstart Initiative

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Kickstart Initiative - Investorsking

As part of its commitment to bringing people together for a better world and its objective of delivering impactful, developmental and sustainable projects, International Breweries Plc through its social investment arm, International Breweries Foundation has launched the 6th edition of its Kickstart entrepreneurship programme recently.

The initiative is targeted at enterprise growth and development for young entrepreneurs between the ages of 18 and 35.

During a media briefing to update the public on the process of this year’s edition, Managing Director, International Breweries Plc, Hugo Rocha expressed delight that the Kickstart Initiative had evolved from the regional programme it used to be, to an inclusive national programme that reaches the six geopolitical zones and 36 states of Nigeria.

“Over the years, we have held the conviction that the energy, zeal, and brilliance of the youths of Nigeria who constitute about 70 percent of the total population should be tapped and channelled to productive use. This is the logic behind Kickstart – to promote a culture of entrepreneurship among young people through training, provision of capital and mentorship,” Rocha said.

Rocha concluded his remarks on a high note, stating that, “as International Breweries celebrates its 50th Anniversary this year, I am pleased that the results of a 3-year impact assessment study that we commissioned on Kickstart came out positive and gives us the confidence to continue to support young people to achieve their dream of entrepreneurship. We remain steadfast in our commitment towards the economic development of Nigeria”

Also speaking at the press conference, Chairman, Advisory Board, International Breweries Foundation, Peter Bamkole explained that International Breweries Plc and its foundation is dedicated to continuing to contribute its quota towards tackling the twin challenges of unemployment and poverty while promoting Decent Work and Economic Growth in line with Goad 8 of the United Nations Sustainable Development Goal (UNSDGs).

“By creating Kickstart, International Breweries Foundation set out to be the nursery of innovation in a business where budding enterprise managers are groomed—held by the hand and taken through the rigour of entrepreneurial work. We aim to produce well-rounded entrepreneurs who understand and are prepared to put in the work it takes to do business successfully in a unique climate like ours.” Bamkole said.

Over the past five years, the Kickstart initiative has provided training, mentoring, and seed capital of N325,136 million (in total) for 274 grantees; 708 direct beneficiaries and 2,832 indirect beneficiaries across a wide range of business sectors; with the result of the creation of about 571 jobs and 1,392 new jobs projected across the six geopolitical zones of Nigeria.

Speaking on the mechanics of the award, Legal and Corporate Affairs Director, International Breweries Plc, Temitope Oguntokun revealed that the award is in three phases: the application phase, the training phase and the pitch fest phase which is the final selection of grantees by judges.

She explained that the Kickstart Initiative will be incorporating an expansive training module that will train 500 young entrepreneurs online, with a number of them going into the bootcamp. This year’s edition also features a streamlined search for entrepreneurs into Agriculture, Modular Retailing, Circular Packaging (Recycling), Technology, and Renewable Energy sectors.

“After a transparent selection process on the Enterprise Development Centre (EDC) platform via the link, https://reg.smetoolkit.ng/program-apply/kickstart-nigeria-2021, which will open on the 20th of May, successful applicants will be equipped with critical skills and training on entrepreneurship by experienced entrepreneurs and corporate professionals during a 2-day boot camp. They will partake at the pitch fest where a panel of judges will appraise their proposals before final selection. Winners of the pitch fest will then be awarded grants at the awards ceremony in Lagos,” Oguntokun noted.

The press launch which held last week in Lagos had in attendance dignitaries such as the Director for Employment, Lagos State Ministry of Wealth Creation and Employment, Mrs Iyabo Seriki-Bello, Director of Partnerships and Coordination for Small and Medium Enterprises Development Agency of Nigeria; Dr Friday Okpara; Chairman, Advisory Board, International Breweries Foundation, Mr Peter Bamkole; members of the International Breweries team, past Kickstart Alumni, mentors and a host of others joining online.

Following its trajectory of success, impact over the years, and its extensive yet immersive plans for the 6th edition, Kickstart, under the auspices of International Breweries and its foundation is geared towards transforming Nigeria into an economic powerhouse through the impact of entrepreneurship.

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Nestlé Health Science to Acquire Nuun

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Nestlé Health Science and Nuun, a leader in functional hydration, have entered into an agreement in which Nestlé Health Science will acquire Nuun.

The acquisition complements Nestlé Health Science’s existing broad portfolio of active lifestyle nutrition brands with Nuun’s range of clean, low-sugar, effervescent tablets and powders.

“Every day, health-conscious consumers are becoming more aware of how functional hydration products can add to their overall well-being as well as support them during exercise by replacing the minerals that the body loses. That growing awareness is reflected in the steady growth of the category,” said Greg Behar, CEO of Nestlé Health Science. “Nuun is a leader in the fast-growing functional hydration category with its high-quality, clean, plant-based products. We look forward to combining our companies’ expertise to bring Nuun to more people around the world.”

Nuun was founded in Seattle, Washington in 2004, pioneering the separation of electrolyte replacement from carbohydrates. Its low-sugar electrolyte tablet revolutionized the sports beverage market. It now has a broad range of effervescent tablets and powders containing additional minerals and vitamins for energy, relaxation and overall well-being.

“Nestlé Health Science and Nuun share the same philosophy: nothing is more important than health and well-being,” said Kevin Rutherford, CEO of Nuun. “In joining Nestlé Health Science, Nuun will further its mission of ‘hydration that empowers the world to move more.’ The Nuun team has built an incredible business and now with the reach, expertise and capabilities of Nestlé, I’m confident that together we will grow, even more, making people and the planet healthier.”

The transaction is expected to close in Q3 2021. Financial details are not being disclosed.

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itel Partners Amatem and Drug-Aid Distributes Relief Materials In Fight Against Malaria

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itel Malaria Day

To commemorate this year’s World Malaria Day, itel recently partnered with Amatem Softgel, an anti-malaria drug in Nigeria, and Drug-Aid Africa, a non-governmental organisation (NGO) that provides medical drug supplies and support to low-income patients in Nigeria and across Africa.

A statement by itel explained that in tandem with the theme of this year’s World Malaria Day, ‘Zero Malaria Starts with Me’, the three brands joined the global fight against malaria by donating treated mosquito nets, free medical tests, mosquito repellent cream and free anti-malaria drugs to over 1,500 households in Isale-Akoka Community, Bariga, Lagos state.

It explained that malaria is a prevalent disease in sub-Saharan Africa, and was responsible for thousands of deaths yearly, adding that as socially responsible organisations, itel, Amatem Softgel, and Drug-Aid Africa, “believe that they have a quota to contribute in ensuring a relatively healthier society.”

The Marketing Manager for West Africa and Nigeria, itel, Oke Umurhohwo, expressed commitment in bridging the gap in low-income communities through its ‘Love Always On CSR initiative.’

He added that the brand was partnering with Amatem Softgel and Drug Aid Africa to provide these communities, “with an even greater fighting chance against malaria is a part of our commitment to them.”

The General Manager, Elbe Pharma, Shivakumar, said: “Malaria is a life-threatening disease, but it is preventable and curable. We at Elbe continue to find a better way to combat this disease, support the vulnerable ones especially the young children. Hence, the introduction of this innovative anti-malaria brand AMATEM SOFTGEL and this CSR partnership.”

The Programme Officer, Drug-Aid Africa, Oluseyi Sanyaolu, said malaria has been ravaging the vulnerable in the society for years, saying, “it is the reasons why Drug-Aid Africa is dedicated to supporting those in indigent communities with medicines and medical supplies. Together, we can end this menace.”

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