Nestle to mull acquiring nutri biz of Speciality Foods

FMCG major Nestle today said its board of directors, in a meeting scheduled to be held on December 9, would consider the acquisition of nutrition business of Speciality Foods India.

A meeting of board of directors will be held on December 9 to consider the proposal of Speciality Foods India for a possible acquisition of its healthcare nutrition business by Nestle," the company said in a filing to Bombay Stock Exchange.

Speciality Foods India, which sells its nutritional and healthcare products under brands such as Resource, Optifast, Spert etc has reported a revenue of Rs 28.8 crore for the fiscal ended March 31, 2009.