Nes­tle to buy Sweet Earth

India Business Journal - - GLOBAL WRAP-UP -

Nes­tle has in­creased its bets on or­ganic and health­con­scious foods with ac­qui­si­tion of Sweet Earth, a Cal­i­for­nian-based maker of ve­gan meals and snacks made from plant­based pro­teins. Fi­nan­cial terms of the deal have not been dis­closed. The Swiss-based food gi­ant ex­pects the US mar­ket for plant-based foods, such as Sweet Earth's Harm­less Ham and Benev­o­lent Ba­con, to be worth around $5 bil­lion by 2020 as en­vi­ron­men­tal and di­etary trends push con­sumers in the di­rec­tion of more sus­tain­able food pro­duc­tion meth­ods.

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