Interest in vitamins, minerals and supplements as a viable consumer product with strong profit-bearing potential has got to be at an all-time high right now, judging from the number of merger and acquisition deals scrolling across the latest finance news feeds.
Reckitt Benckiser successfully wrapped up its pursuit of Schiff Nutrition on Friday with the signing of a definitive merger agreement in a deal valued at $1.4 billion. Bayer officially relinquished its proposed acquisition on the same day.
The battle for Schiff Nutrition is on. Reckitt Benckiser on Friday commenced its previously announced tender offer to acquire all of the outstanding shares of Schiff Nutrition — a provider of branded vitamins, nutrition supplements and nutrition bars in the United States and elsewhere — for $42 per share in cash, or approximately $1.4 billion.
Reckitt Benckiser on Friday made an offer to acquire all of the outstanding shares of VMS maker Schiff Nutrition for $42 per share in cash, or approximately $1.4 billion — a premium of 23.5% more than the $34 per share offer Bayer HealthCare announced Oct. 30.
Enough is enough. That’s what Schiff Nutrition director, president and CEO Tarang Amin told analysts during a conference call Thursday — only four months into his tenure — regarding the predominant industry practice of funding buy-one-get-one promotions for glucosamine and chondroitin supplements.
Schiff Nutrition on Wednesday named Jennifer Steeves-Kiss SVP and chief marketing officer. Steeves-Kiss joins Schiff from Procter & Gamble, where for almost two decades she helped build premium brands.
Schiff Nutrition president and CEO Tarang Amin promised to infuse some new energy into the company with his appointment earlier this spring, and he wasted no time with the Schiff acquisition of two probiotic brands — Sustenex and Digestive Advantage — in June.
Schiff Nutrition on Tuesday announced its $40 million acquisition from Ganeden Biotech of the worldwide exclusive rights to use the probiotic technology GanedenBC30 in the over-the-counter and dietary supplement space, along with the brands Sustenex and Digestive Advantage, under which GanedenBC30 currently is sold.