Nestle wants to sell its skin health unit, as the company wants to focus mainly on food, drinks and nutritional health.
The Swiss company’s skin health unit (which produces Cetaphil and Proactiv skin care brands and Restylane wrinkle fillers) had sales of 2.7 billion Swiss francs ($2.8 billion) last year, which is around 3 percent of Nestle’s total sales. The skin treatments business is reportedly facing challenges from generic competition. Keen on concentrating on its food and healthcare segments, Nestle said, “the future growth opportunities of Nestle Skin Health lie increasingly outside the group’s strategic scope”. Also, Nestle agreed to sell its Gerber Life Insurance business for $1.55 billion, while a Reuters report suggested that it might be bidding for GlaxoSmithKline’s Horlicks drink.