(Bloomberg) -- Nestle SA agreed to buy Aimmune Therapeutics Inc. in a $2.6 billion deal, adding a leader in the prevention of peanut allergies as demand for mainstream consumer goods slows.
The Swiss owner of Nespresso will pay $34.50 a share for the U.S. biotech firm, a 174% premium to the closing price on Friday. Nestle has been expanding its health science arm while shedding slower-growing businesses such as its U.S. confectionery operations.
Aimmune’s Palforzia is the only treatment approved by the U.S. Food and Drug Administration to help reduce the frequency and severity of allergic reactions to peanuts in children aged 4 through 17, Nestle said in a statement.
Including a 26% stake that Nestle already holds in Aimmune, the deal has an enterprise value of about $2.6 billion, the Swiss company said.
Nestle acquired Canadian supplements maker Atrium Innovations three years ago in a $2.3 billion deal.
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