Nestlé S.A., based in Vevey, Switzerland, has acquired shares and sole control of Promedico Handels GmbH, located in Graz, Austria.
Nestlé, which already held a 20 percent stake in Promedico, agreed to a full merger of the two companies in early June 2022. Promedico will continue to operate as an independent entity, retaining its administrative locations and logistics center in Austria. The full merger is pending approval from the European antitrust authorities, which is expected shortly.
Promedico was founded in 1986 by Heinz Wallenko. Since 1998, the company has been distributing the micronutrient brand Pure Encapsulations from the USA. Nestlé acquired the Canadian manufacturer Atrium and the Pure Encapsulations brand in 2017. Promedico holds exclusive rights for Pure Encapsulations in Germany and Austria. New products are also developed in Graz, with the Pro Academy serving as a second pillar. The business is managed by Alexander Wallenko, son of the company’s founder, with active family involvement.
Nestlé is one of the world's largest companies, according to Forbes Global. As the largest food and beverage company globally, Nestlé generated sales of CHF 84.3 billion and a net profit of CHF 12.2 billion in 2020, employing 273,000 people worldwide. In Germany alone, Nestlé employs approximately 9,300 people, with its headquarters in Frankfurt am Main. Its product categories include liquid and powdered beverages, nutrition and health products, dairy products and ice cream, pet care, ready meals and cooking aids, confectionery, and water products.
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