Nestlé S.A.
Acquisitions
5
Major Deals Covered
$25.9B
Disclosed Deal Value
Nestlé's largest disclosed acquisition here is Ralston Purina for $10.3B in 2001. This page covers 5 major deals from 1985 to 2018, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Carnation | 1985 | $3.0B | Expanded Nestlé in dairy, coffee creamers, and pet food. |
| Ralston Purina | 2001 | $10.3B | Transformed Nestlé into a major pet care company. |
| Gerber | 2007 | $5.5B | Expanded infant and toddler nutrition. |
| Starbucks consumer-products license | 2018 | $7.2B | Added Starbucks branded consumer packaged coffee outside Starbucks stores. |
| Dreyer's | 2002 | Undisclosed | Nestlé S.A. acquired Dreyer's in 2002. |
2018
$7.2B
Added Starbucks branded consumer packaged coffee outside Starbucks stores.
Deepened Nestlé coffee reach in retail and food service.
The license supports the Coffee global business focus.
2007
$5.5B
Expanded infant and toddler nutrition.
Strengthened Nestlé nutrition presence, especially in the United States.
Gerber remains part of Nestlé nutrition strategy.
2002
Nestlé S.A. acquired Dreyer's in 2002.
2001
$10.3B
Transformed Nestlé into a major pet care company.
Built the foundation for one of Nestlé's strongest growth pillars.
Purina is now central to Nestlé PetCare.
1985
$3.0B
Expanded Nestlé in dairy, coffee creamers, and pet food.
Added major North American brands and manufacturing reach.
Supported Nestlé expansion in packaged foods and pet-related categories.
Under Philipp Navratil, Nestlé is pursuing what it calls RIG-led growth: driving volume rather than price increases. It is putting more money behind four core businesses (Coffee, Petcare, Nutrition, Food & Snacks) and growth platforms that it says make up about 30% of sales. It is also reshaping the portfolio. In July 2026 it agreed to put waters and premium beverages into Peranel, a 50:50 joint venture with Platinum Equity, which is expected to bring about $3.36 billion (CHF 2.8 billion) in net cash in the first half of 2027. It sold Blue Bottle Coffee, took full ownership of yfood, and classified ice cream and mainstream vitamins, minerals and supplements as held for sale.
Nestlé makes money by manufacturing and selling branded food and drinks through supermarkets, convenience stores, e-commerce, pet specialty, pharmacies, hospitals and out-of-home channels in roughly 185 countries. In 2025 its largest categories were powdered and liquid beverages (28.1% of sales, led by Nescafé, Nespresso and Starbucks at-home products), PetCare (20.6%, Purina), and Nutrition and Health Science (16.0%). Prepared dishes and cooking aids, milk products and ice cream, confectionery and water make up the rest. Nespresso adds a direct-to-consumer channel through boutiques and online sales.
In 2001, Nestlé acquired American pet food giant Ralston Purina for $10.3 billion, merging it with Friskies PetCare to form Nestlé Purina PetCare, which became the world's most profitable and technologically advanced pet nutrition business.
In August 2018, Nestlé paid Starbucks $7.15 billion in cash for the perpetual global rights to market, distribute, and package Starbucks-branded consumer coffee and tea products in retail and foodservice channels outside Starbucks retail stores.
In 1988, Nestlé acquired UK confectioner Rowntree Mackintosh for £2.55 billion ($4.5B USD) after a fierce bidding battle with Suchard, bringing globally beloved brands including KitKat, Smarties, Quality Street, and After Eight into the Nestlé portfolio.
In 2021, Nestlé Health Science acquired the core vitamin and supplement brands of The Bountiful Company (including Nature's Bounty, Solgar, Osteo Bi-Flex, and Puritan's Pride) for $5.75 billion, making Nestlé a global leader in vitamins, minerals, and supplements (VMS).
In 1985, under CEO Helmut Maucher, Nestlé acquired Carnation for $3.0 billion, marking the largest non-oil corporate acquisition in history at the time and adding Carnation evaporated milk, Coffee-mate non-dairy creamer, and Friskies pet food.
In 2020, Nestlé Health Science acquired a majority stake in Chicago-based Vital Proteins (and later 100%), expanding into the booming lifestyle collagen supplement market endorsed by global celebrity ambassadors.
In 2018, Nestlé sold its US confectionery unit (including Butterfinger, BabyRuth, Crunch, and Raisinets) to Italian chocolatier Ferrero for $2.8 billion in cash, exiting lower-margin, mass-market US candy to focus on high-growth health, coffee, and pet categories.
Nestlé acquired ophthalmic healthcare company Alcon in 1977 for $280 million and systematically sold its equity stake to Novartis between 2002 and 2010 for a total of approximately $41 billion, generating one of the most profitable investment returns in corporate history.
In 2018, Nestlé sold its US candy business (including Butterfinger, Baby Ruth, and Crunch) to Ferrero for $2.8 billion in cash. The US candy business suffered from high sugar scrutiny and low margins; selling it allowed Nestlé to reallocate billions into fast-growing health science, premium pet food, and coffee.
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