Nestle on Aug. 31 announced it will pay $2.6 billion to acquire Brisbane, Calif.-based Aimmune Therapeutics, a move that broadens the Swiss food company's health science portfolio.
Best known for manufacturing snack foods, Nestle established Nestle Health Science in 2011. Its acquisition of Aimmune brings Palforzia, the first and only peanut allergy treatment approved by the FDA for use in children, into its portfolio.
"This transaction brings together Nestle's nutritional science leadership with one of the most innovative companies in food allergy treatment," Nestle Health Science CEO Greg Behar said in a news release. "Together we will be able to offer a wide range of solutions that can transform the lives of people suffering from food allergies around the world."