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Baby Food Maker Gerber Acquired by Nestle

Nestle SA has agreed to acquire U.S. baby food maker Gerber in a deal worth $5.5 billion, the company announced Thursday. The acquisition gives the Vevey, Switzerland-based chocolate maker, with U.S. headquarters in Glendale, the number one position in the largest single baby food market in the world the U.S. Gerber’s international sales are projected to reach $1.95 billion in 2007. Nestle has been on a veritable buying spree of late with the acquisition of Novartis, maker of Boost and Resource nutritional supplements and Optifast diet products, for $2.5 billion last December; and weight loss program developer and marketer Jenny Craig Inc. for $600 million in August, 2006.

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