January 28, 2020

Mayer Brown advises Nestlé on acquisition of Allergan business to expand in medical nutrition


Mayer Brown has helped Swiss food giant Nestlé expand its medical nutrition business by buying Allergan’s Zenpep, a product for people whose pancreases do not provide enough enzymes to properly digest fats, proteins and sugars, as well as Allergan’s Viokace, another pancreatic enzyme preparation.

Allergan’s sale of Zenpep comes in conjunction with the ongoing regulatory approval process of AbbVie’s $63 billion takeover of the Irish-domiciled drugmaker. The closings of both acquisitions are contingent upon receipt of Federal Trade Commission and European Commission approval, the completion of AbbVie's pending acquisition of Allergan and the satisfaction of other customary closing conditions.

The Mayer Brown team included: Corporate & Securities – partners David Carpenter, John Boelter and Reb Wheeler and associates Omar El-Khattabi (DC), Karen Chong, Lily Song, Michael Russo and Daniela Abadi (all NY); IP – partners Joseph Mahoney (Charlotte) and Richard Assmus (Chicago) and associates Scott McMurry, Lana Khoury and Ryan Babcock (all NY); Tax Transactions & Consulting – partner Remmelt Reigersman (NorCal) and associate George Haines (Chicago); and Litigation & Dispute Resolution – partners Elizabeth Mann (LA), Mark Ryan and Adam Hudes and counsel Meytal McCoy (all DC).

For more than a decade, Mayer Brown has advised Nestlé on transactions that have helped transform it from a company primarily focused on food and beverages to one that promotes health and wellness across a variety of business sectors, including:

  • Nestlé Health Science S.A. in its $2.3 billion acquisition of Atrium Innovations, a Montreal-based global leader in nutritional health products, from a group of investors led by Permira Funds;
  • Nestlé in its acquisition of Medical Nutrition business of Novartis for $2.5 billion; and
  • Nestlé in its purchase of pharmaceutical giant Pfizer Inc.'s infant nutrition business for $11.9 billion.

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