Nestle Completes Novartis Purchase

Nestle SA completed its $2.5 billion acquisition of Novartis Medical Nutrition. The transaction adds Boost, Resource and Optifast dieting and nutritional products to the Nestle family of companies. Nestle, which has U.S. headquarters in Glendale, was required to divest some of its units in France and Spain to comply with antitrust concerns. About 2,000 Novartis employees will join Nestle as a result of the acquisition.