Nestle CEO Paul Bulcke called the deal to buy the Pfizer Nutrition unit an excellent strategy. Nestle said in a statement Monday that estimated sales from the acquired business will be (Canadian) $2.4 billion in 2012. It said 85 percent of those sales are in emerging markets, many of which have large, fast-growing populations.
In America, Nestle also sells products under the Gerber brand. Nestle is one of the largest sellers of infant formula and could face some anti-trust hurdles before completing the deal.
The Associated Press contributed to this report.
