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Nestle Nears Deal for Protein Powder Maker Orgain

  • Swiss food giant making deals to expand in health products
  • Butterfly Equity began exploring Orgain sale last year
Nestle SA Products Ahead Of Earnings
Photographer: Stefan Wermuth/Bloomberg
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Nestle SA agreed to acquire a majority stake in Orgain, a maker of plant-based protein powders and other products, expanding its nutrition portfolio.

Butterfly Equity and Orgain founder Andrew Abraham will keep a minority stake, staying on as chief executive officer, the companies said Wednesday, confirming an earlier report by Bloomberg about the sale. Financial details weren’t disclosed, though Nestle has the option to fully acquire Orgain in 2024.