The deal aims to expand the Nestlé medical nutrition business and complement its portfolio of therapeutic products.
"Nestlé's acquisition of Zenpep is a strategic decision that will enhance our growing medical nutrition portfolio," said Greg Behar, CEO of Nestlé Health Science. "This is a significant opportunity for our business in the United States to add a complementary product to our existing range of nutrition products that support food ingestion, digestion and absorption. We have extensive experience in Zenpep's therapeutic areas of digestive diseases through our medical nutrition business and will leverage those capabilities as we grow this new business."
The deal is expected to be finalized concurrent with the merger of Allergan and AbbVie. Financial details of this acquisition are not being disclosed.
Nestlé will take ownership of Zenpep upon closing the transaction, with customary transition support from the seller.
"Within our medical nutrition business, we work directly with healthcare professionals to educate them about our products that are used in hospitals, home healthcare, and clinics," said Anna Mohl, business executive officer of Nestlé Health Science USA. "We are excited to leverage our broad capabilities and expand our team to drive rapid growth of this new acquisition. We look forward to welcoming all Zenpep employees who will join our team."