GENEVA (AP) — Swiss consumer goods company Nestle says it is buying Atrium Innovations, a privately-held maker of nutritional health products, for $2.3 billion in cash.
Nestle said Tuesday it will buy the company, which is headquartered in Quebec, Canada, from a group of investors led by Permira Funds.
Atrium has about 1,400 workers and its 2017 sales are forecast to reach almost $700 million. Its largest brand is the Garden of Life line of supplements.
Greg Behar, Nestle's chief executive for health science, said Atrium's brands will help supplement Nestle's offerings in the fast-growing market for natural and organic supplements.