Nestle agrees $11.9bn deal to buy Pfizer baby food unit "Pfizer Nutrition is an excellent strategic fit and this acquisition underlines our commitment to be the world's leading nutrition, health and wellness company," Nestle chief executive Paul Bulcke said in a statement. The group added that the takeover would "complement our existing infant nutrition business perfectly." Nestle estimates that Pfizer Nutrition's sales, which generates about 85pc of its sales from emerging markets, would reach about $2.4bn in 2012. The purchase will help Nestle, already the top seller of infant-nutrition products, regain its footing in the Chinese baby-food market, where it has been losing market share for more than five years. Nestle is already one of the world's largest sellers of infant formula and may face regulatory hurdles to complete the deal. To win approval, Nestle would likely have to divest assets in certain markets where it has a dominant position, according to sources quoted by the Wall Street Journal, who added that the company would be prepared to sell assets if necessary.