Nestle, the world's largest food company, on Tuesday said it had agreed to take over Swiss water bottler Henniez, first by buying a 62% stake and then by launching a public tender.
Nestle said it had agreed to buy the 62% stake at 3,000 Swiss francs per share from the Rouge family. The transaction is valued at a total of 155 million Swiss francs ($128.3 million), Nestle said in a statement.
Henniez has a total market value of 213 million francs, according to Reuters data.
Nestle will launch a public tender offer for the remaining listed shares of the family-run Henniez at 5,303 francs per share, below the company's closing price of 5,340 on Monday.