As per the auction process, Aurobindo emerged as best bidder with a bid of $132.5m to acquire the assets of Natrol with an agreement to take on certain liabilities.
The company expects that Natrol is an excellent strategic fit and provides the right platform for creating a fully-integrated over the counter (OTC) platform in the US and in other international markets.
Natrol manufactures and sells nutritional supplements in US and other international market.
With the acquisition, Aurobindo will be able to expand its presence in a variety of attractive supplement markets as well as have better performance in the mass market, health food and speciality channels.
Natrol will also provide Aurobindo with existing long term relationship with key distribution and retail partners addressing a broad range of consumers.
The acquisition is subject to final approval by the US Court and other statutory approvals as may be required, including any termination of the waiting period or approval under the HSR Act, and closing conditions as per the asset purchase agreement.