Nestlé Health Science agrees to purchase majority stake in Orgain
Nestlé Health Science will purchase a majority stake in Orgain, a leader in plant-based nutrition, from its founder Andrew Abraham, MD and Butterfly Equity, who will each remain minority share owners.
Photo © iStockphoto.com/skynesher
Nestlé Health Science (Vevey, Switzerland) will purchase a majority stake in Orgain, a leader in plant-based nutrition, from its founder Andrew Abraham, MD and Butterfly Equity, who will each remain minority share owners. The agreement also includes the option for Nestlé to fully acquire Orgain in 2024. Orgain was founded in 2009 in California by Abraham who is a integrative medicine specialist and cancer survivor. Orgain’s products consist of plant-based protein shakes, powders and snacks.
“Nutritional protein plays a key role in supporting our health and wellness, whether we enjoy an active lifestyle or are facing health challenges,” said Greg Behar, CEO of Nestlé Health Science, in a press release. “Orgain’s emphasis on clean, all natural, plant-based, organic ingredients has made it a leader in the U.S., and we look forward to combining our companies’ expertise to bring Orgain to more people around the world.”
“Nestlé Health Science and Orgain share the same philosophy: better nutrition can change lives,” said Abraham, CEO and Founder of Orgain. “As someone who has experienced the power of clean, protein-based nutrition, and as a physician, it’s been important for me to help as many people as possible to live their most vibrant lives. We’ve worked hard to develop innovative products that make a real difference in consumers’ lives, and now through Nestlé Health Science’s capabilities, resources and dedication to nutrition, we will be able to reach more people around the world.”
Abraham will continue to serve as CEO of Orgain. The transaction is subject to customary regulatory approvals.
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