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Nestle completes Gerber buy

Switzerland - Swiss food giant Nestle said on Monday that it had completed its $5.5bn takeover of Gerber, the biggest baby food maker in the United States.

The move, which took effect on September 1, followed a successful conclusion of regulatory approval, Nestle said in a statement.

"This is a major step in Nestle's transformation into the world's leading nutrition, health and wellness company: it gives the group the number one position in the largest single baby food market worldwide, the USA, and clearly establishes Nestle Nutrition as the global leader in this sector," it added.

Nestle announced the deal to buy Gerber from the Swiss pharmaceutical group Novartis in April, in a bid to secure Gerber's 79% market share in the US, the world's largest baby food market.

The Swiss giant is widely regarded as the world number one for baby foods, but Gerber's dominance in the US had stifled Nestle's progress.

- AFP

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