Nestlé was founded in 1866 and has grown significantly through mergers and acquisitions over the decades, including the merger with Anglo-Swiss Condensed Milk Company in 1905 and the acquisition of Carnation in 1985, which strengthened its position in pet food. More recent transactions include the acquisition of Ralston Purina in 2001 to establish the Nestlé Purina PetCare Company and the renaming of Perrier Vittel Group as Nestlé Waters in 2002.