Nestle SA said today it will acquire Novartis, maker of Boost and Resource nutritional supplements and Optifast diet products, for $2.5 billion. The deal does not include Novartis’s Gerber unit, which Nestle was earlier reported to be seeking. The deal is subject to approvals. It is expected to close in the second half of next year. The Novartis unit, based in Gland, Switzerland, employs about 2,000 workers. Vevey, Switzerland-based Nestle, whose U.S. headquarters are in Glendale, said those workers will join its company.

The Employee Assistance Professionals Association holds its holiday celebration and networking event. 11 a.m. Stargazer Restaurant 6501 Fallbrook Ave., West Hills (818) 759-9999 sfveapa.com

Jody Maroni is opening at Camarillo Premium Outlet Mall food court. The company’s sausage sandwich concept, featuring such flavors as Yucatan Chicken and Smoked Chicken Apple, began on Venice Beach and has since expanded to nationwide. Jody Maroni products are also sold in some groceries.

Storage and capacity provider DataDirect Networks Inc. expanded its presence in the Asian market with the opening a fully owned subsidiary in Japan, the company announced. DataDirect Networks Japan provides sales, marketing, training and technical support to the Chatsworth firm’s customers and partners in Japan. Together with DataDirect’s Chinese subsidiary, the Japanese company will also support the expansion of the company across Asia, the company said in a statement released Thursday. Opening a subsidiary is a right move for the company because Japan is a leading market for high-performance computing, said DataDirect President Paul Bloch. “We feel the timing is perfect to establish a local presence in Japan to better support our customers and partners, and to capitalize on this growing opportunity for high performance, high capacity storage solutions in the [Asia Pacific] markets,” Bloch said in the statement. DataDirect Networks’ Silicon Storage Appliance is used by many top tier Japanese television stations, media and internet companies, as well as leading universities and manufacturing companies in Japan.

Cherokee Inc. said today it has renewed its licensing agreement for Sideout Apparel with Mervyns. The agreement runs through January 2010.

A 128-unit hotel property is on the market in Thousand Oaks. Amber Hotel Co. is asking $6.5 million for the Premier Inn, a two-story hotel at 2434 W. Hillcrest Drive. The property sits on 2.47 acres. Amber Hotel is based in Malibu.

The chief technology officer and corporate development officer of Optical Communications Products Inc. will leave the Woodland Hills company at the end of the month, it was announced Thursday. The departures bring to three the number of top executives leaving the optic component company. Muoi Van Tran and Susie L. Nemeti helped found the fiber optic component company in 1991. Tran, the chief technology officer and former company president, stays on as chairman of the board of directors and both he and Nemeti will stay in consulting roles during the transition to new leadership. Nemeti served as chief financial officer until May. The resignations follow that of Chief Operating Officer and co-founder Mohammad Ghorbanali who left in October. “We wish to express our deep gratitude to Dr. Tran, Ms. Nemeti and Mr. Ghorbanali for their innumerable contributions over the years and instrumental involvement in building OCP to what it is today,” President and CEO Philip F. Otto said in a statement. “On behalf of the Board, we wish them every success in their future endeavors.” Also on Thursday, the company released its financial earning for the fourth quarter and full fiscal year ending on Sept. 30. For the fourth quarter the company has a net loss of $1.3 million, or an earnings loss of $0.01 per diluted share, on revenues of $19.1 million. That is a significant drop from the net income of $1.6 million, or $0.01 per diluted share, on revenues of $14.9 million posted for the fourth quarter of 2005. For the full fiscal year, the company has a net profit of $1.4 million, or $0.01 per diluted share, on revenues of $70.1 million. That is an increase over the revenues of $941,000, or $0.01 per diluted share, on revenues of $56 million, reported by the company for fiscal years 2005.

The Encino Chamber of Commerce holds it holiday party and toy & book drive. 5:15 p.m. Ate-1-8 Restaurant 17620 Ventura Blvd., Encino (818) 789-4711 encinochamber.org

Well Point Inc. said its forecast 2007 results are higher than Wall Street estimates. The managed health care provider estimates earnings of $5.53 per share on revenue of $61.9 million, 10 percent higher than the 2006 revenue estimates. Analysts had expected earnings at $5.52 on revenue of $61.87 million.

Smaller public companies could catch a break with a proposal to ease the financial control rules imposed several years ago by Section 404 of Sarbanes-Oxley legislation, or SOX as it is known. The Securities and Exchange Commission proposed revisions to the regulations for companies with market capitalizations ranging between $75 million and $700 million that would lessen the requirements for testing internal controls and some of the documentation required. Smaller companies have been outspoken about the burden that SOX imposes for them.