NEW YORK (TheStreet) -- Looking to extend its skin care unit, Nestle (NSRGY) - Get Report will pay $1.4 billion in cash for the right to sell products made by Valeant Pharmaceuticals (VRX) , Bloomberg reported.
The Switzerland-based holding company for the Nestle Group is looking to purchase the facial aesthetic treatments Restylane, Perlane, and Emervel to sell in the U.S. and Canada. The company already sells those products outside of North America.
Nestle is looking to build up a strong skin-care unit as its main food business struggles, Bloomberg noted.
Must Read: Warren Buffett's 25 Favorite Stocks