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news.Nutritional supplements manufacturer NBTY has agreed to pay $115 million for the assets of Solgar Vitamin and Herb, a division of Wyeth Consumer Healthcare. The acquisition includes net assets worth an estimated $64 million.
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Solgar, a manufacturer of nutritional supplements, had sales of approximately $105 million in 2004. Included in the company’s products are premium-branded multivitamins, minerals, botanicals and specialty formulas designed to meet the specific needs of men, women, children and seniors.
Wyeth, previously named American Home Products, bought the New Jersey based company for $425 million in 1998.
Solgar’s products are sold at nearly 5,000 health food stores, natural product stores, natural pharmacies and specialty stores across the US. In addition, Solgar’s products are sold internationally in 40 countries including North and South America, Asia, the Middle East, Europe, South Africa, Australia and New Zealand.
NBTY chairman and CEO Scott Rudolph, said, “Solgar will strengthen NBTY’s presence in the health food store market. The Solgar brand will be focused on serving the needs of the independent health food store across the United States. It is a significant opportunity for NBTY to grow both domestically and internationally.”
The purchase price will be adjusted based upon the actual net assets transferred at closing. The transaction is subject to regulatory and other customary approvals and is expected to close by August 2005.