Press Release: Nestle: Nestlé to acquire core brands of The Bountiful Company, expands health and nutrition portfolio

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Vevey, April 30, 2021

Nestlé to acquire core brands of The Bountiful Company, expands

health and nutrition portfolio

Nestlé and KKR today have entered into an agreement in which

Nestlé will acquire core brands of The Bountiful Company for USD

5.75 billion. The Bountiful Company is the number one pure-play leader

in the highly attractive and growing global nutrition and supplement

category.

The transaction includes the high-growth brands Nature's Bounty(R),

Solgar(R), Osteo Bi-Flex(R) and Puritan's Pride(R) as well as the

company's US private label business. These brands will be integrated

into Nestlé Health Science, creating a global leader in vitamins,

minerals and nutritional supplements. The Bountiful Company's sports and

active nutrition brands Pure Protein(R), Body Fortress(R) and MET-Rx(R),

as well as Dr.Organic(R) and the Canadian over-the-counter (OTC)

business, which do not complement the Nestlé Health Science

portfolio, are not included in the deal. The transaction is expected to

close in the second half of 2021, following the completion of customary

closing conditions, including regulatory clearance.

"Vitamins and supplements are a key part of our business and have

contributed to strong growth acceleration," said Nestlé Health

Science CEO Greg Behar. "This acquisition complements our existing

health and nutrition portfolio in terms of brands and channels. It will

establish Nestlé Health Science as the industry leader in mass

retail, specialty retail, e-commerce and direct-to-consumer in the US,

while offering significant opportunities for geographic growth."

"Today's announcement from Nestlé Health Science recognizes the

transformation of The Bountiful Company over the past 3+ years, as well

as the collective value and capability of the organization. I am

incredibly grateful to the more than 4,500 colleagues around the globe

who have worked tirelessly to get us to this point," said Paul Sturman,

President and CEO, The Bountiful Company. "As a leader in global

nutrition, we take seriously our responsibility and role in consumers'

health and wellness. We're incredibly proud of the trusted brands we've

built and are confident that they will be strong assets for

Nestlé."

The transaction is valued at USD 5.75 billion on a cash free, debt free

basis, representing a multiple of 3.1x net sales and 16.8x EBITDA as of

March 31, 2021. Net sales of the acquired brands were USD 1.87 billion

in the last twelve months ending March 31, 2021, with an EBITDA of

18.3%. This EBITDA will be negatively affected by one-off integration

costs, which will be slightly dilutive to Nestlé's underlying

trading operating profit margin in 2021. The margin is expected to

increase above the Nestlé Group average once synergies are fully

implemented by 2024.

By combining the The Bountiful Company's core assets together with

Nestlé's leading science and innovation in health and nutrition,

Nestlé is well placed to accelerate benefits in prevention and

treatment solutions to consumers across the world.

Nestlé Heath Science's current vitamins, minerals and supplements

brands include Garden of Life(R), Vital Proteins(R), Pure

Encapsulations(R), Wobenzym(R), Douglas Laboratories(R), Persona

Nutrition(R), Genestra(R), Orthica(R), Minami(R), AOV(R) and Klean

Athlete(R).

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About Nestlé Health Science

Nestlé Health Science, a leader in the science of nutrition, is a

globally managed business unit of Nestlé. We are committed to

redefining the management of health, offering an extensive portfolio of

science-based consumer health, medical nutrition, pharmaceutical

therapies, and vitamin and supplement brands. We believe in empowering

healthier lives through nutrition. Our extensive research network, both

within Nestlé's R&D centers as well as with external partners,

provides the foundation for products that can help people to live their

healthiest lives. Headquartered in Switzerland, we have more than 7,000

employees around the world, with products available in more than 160

countries. www.nestlehealthscience.com

About The Bountiful Company

The Bountiful Company is a pure play branded leader in global nutrition,

living at the intersection of science and nature. As a manufacturer,

marketer and seller of vitamins, minerals, herbal and other specialty

supplements, and active nutrition products, we are focused on enhancing

the health and wellness of people's lives. The Bountiful Company's

portfolio of trusted brands includes Nature's Bounty(R), Solgar(R), Pure

Protein(R), Osteo Bi-Flex(R), Puritan's Pride(R), Sundown(R), Body

Fortress(R), MET-Rx(R), Ester-C(R) and Dr.Organic(R). For more

information, visit Bountifulcompany.com

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Contacts:

Media:

Christoph Meier Tel.: +41 21 924 2200

mediarelations@nestle.com

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Jacquelyn Campo Tel.: +41 79 598 1163

NestleHealthScience.External@nestle.com

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Investors:

Luca Borlini Tel.: +41 21 924 3509

ir@nestle.com

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April 30, 2021 01:15 ET (05:15 GMT)