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Nestlé to sell Pfizer's baby-food business in Mexico

Tuesday, April 16, 2013

Swiss food company Nestlé will sell the assets of US-based pharmaceutical company Pfizer's baby food business in Mexico which it acquired globally in an $11.85 billion deal last year.

Mexico's Federal Competition Commission said the Swiss company must also license the Pfizer brands for 10 years to whichever company buys the assets.

Nestlé will not be allowed to operate Pfizer's baby food brands for 20 years, although it can retain the license for Pfizer's Maternal products.

Source: Reuters