[20 September/Reuters]

Nestle is reviewing its business portfolio and has put its skin health unit up for sale. It said it was exploring strategic options for the unit and its future growth opportunities were increasingly outside the group’s strategic scope. Nestle also sold its Gerber Life Insurance business for $1.55 billion. The skin health unit made Cetaphil and Proactiv skin care brands, Restyland wrinkle fillers, and prescription dermatology treatments. It had sales of USD2.8 billion last year. Vontobel Analyst, Jean-Philippe Bertschy, estimated the business to be worth between 6 and 6.5 billion francs. Nestle Skin Health was formed in 2014. Jeffries Analyst, Martin Deboo, thought the most likely exit options were a leveraged buyout or a sale to L’Oreal.