Dive Brief:
- Fresenius, a German healthcare company, has teamed with investment group Permira in a bid for Danone's medical nutrition unit, according to the Wall Street Journal.
- Danone, the world's largest dairy company and maker of the Dannon and Activia yogurt brands, has been seeking to unload the medical nutrition unit for months with little success.
- The unit, which produces nutrition-rich foods for the sick, elderly, and young, could fetch as much as $5.64 billion, according to analysts.
Dive Insight:
According to the Journal, the only other bidder to emerge for Danone's medical nutrition business is the private equity fund CVC.
It's a little surprising that rival Nestle, given its much-publicized interest in transitioning from a food business into a super nutrition company capable of making things like "exercise in a bottle," isn't interested.