Nestlé Health Science has agreed to buy a majority stake in Orgain, a leader in plant-based nutrition, from founder Dr Andrew Abraham and Butterfly Equity, who will continue to be minority shareholders.
Orgain complements Nestlé Health Science’s existing portfolio of nutritional products that support healthier living.
“Nutritional proteins play a key role in supporting our health and well-being, whether we lead active lifestyles or face health challenges,” said Greg Behar, CEO of Nestlé Health. Science. “Orgain’s focus on clean, organic, all-natural, plant-based ingredients has made it a leader in the United States, and we look forward to combining the expertise of our companies to bring Orgain to more people in the world.”
Orgain was founded in 2009 in California by Dr. Abraham, an integrative medicine specialist and cancer survivor. He developed the protein shakes, powders and snacks based on his belief that everyone deserves access to healthy, wholesome food. Orgain has become the leader in plant-based protein powders and the leader in ready-to-drink organic nutritional protein shakes in the United States.
“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 eating and as a physician, it has been important to me to help as many people as possible live their most vibrant lives.
“We have worked hard to develop innovative products that make a real difference in consumers’ lives, and now thanks to Nestlé Health Science’s capabilities, resources and dedication to nutrition, we will be able to reach more people. in the world.”
Abraham will continue to serve as CEO of Orgain.
The transaction is subject to customary regulatory approvals. The agreement is expected to be slightly accretive to Nestlé’s organic growth, while being slightly dilutive to the Group’s underlying operating profit margin in 2022. The agreement includes the option for Nestlé Health Science to fully acquire Orgain in 2024 .