Press Release: Nestle: Nestlé agrees to sell Gerber Life Insurance Co. to Western & Southern Financial Group

Nestlé S.A. / Nestlé agrees to sell Gerber Life Insurance Co.

to Western & Southern Financial Group. Processed and transmitted by

Nasdaq Corporate Solutions. The issuer is solely responsible for the

content of this announcement.

This press release is also available in Français (pdf):

https://www.nestle.com/asset-library/Documents/Media/press-release/2018-september/gerber-life-insurance-fr.pdf

and Deutsch (pdf):

https://www.nestle.com/asset-library/Documents/Media/press-release/2018-september/gerber-life-insurance-de.pdf

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Vevey, September 17, 2018

Nestlé agrees to sell Gerber Life Insurance Co. to Western &

Southern Financial Group

Nestlé today announced that it agreed to sell the Gerber Life

Insurance Company ("Gerber Life"), to Western & Southern Financial Group

for USD 1.55 billion in cash. Gerber Life is a highly recognized and

trusted leader in the juvenile and family life insurance market, with

statutory capital and surplus of approximately USD 285 million (as of

June 30, 2018). The business had sales of USD 856 million in 2017.

The deal allows Western & Southern Financial Group to market insurance

products under the Gerber Life brand. The transaction does not include

Nestlé's Gerber Products business, a household brand in baby food

and baby care, which Nestlé will continue to develop.

Nestlé CEO Mark Schneider said: "We are delighted to have found an

outstanding new home for Gerber Life at Western & Southern, where it

will flourish as part of a larger financial services organization. This

move is part of the ongoing evolution of our portfolio. It will allow us

to invest further in our core food and beverage business and in consumer

healthcare."

The agreement follows Nestlé's announcement in February 2018 that

it was exploring strategic options for the Gerber Life business. The

transaction is expected to close in late 2018 or early 2019, following

the completion of customary regulatory approvals and closing conditions.

Contacts:

Media: Christoph Meier Tel.: +41 21 924 22 00

Media US: Josh Morton Tel.: +1 571 457 52 62

Investors: Luca Borlini Tel.: +41 21 924 35 09

This announcement is distributed by Nasdaq Corporate Solutions on behalf

of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely

responsible for the content, accuracy and originality of the information

contained therein.

Source: Nestlé S.A. via Globenewswire

--- End of Message ---

Nestlé S.A.

Avenue Nestlé 55 Vevey Switzerland

WKN: 887208;ISIN: CH0038863350;

http://www.nestle.com

(END) Dow Jones Newswires

September 17, 2018 16:32 ET (20:32 GMT)