Nestle to Buy Stake in Malher

Nestle has agreed to buy a majority stake in Guatemalan food and powdered-beverage maker Malher.

Malher manufactures, markets and distributes culinary products and powdered beverages under brands such as Malher, Yus and Toki.

Financial details of the agreement have not been disclosed.

Last week Nestle bought Vitaflo, a UK-based maker of nutrition products for people with metabolic disorders.

The Swiss company said it is planning to annually spend about $2.8bn on “bolt-on” acquisitions.