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MORRISTOWN, N.J., and SALT LAKE CITY — Bayer HealthCare plans to acquire vitamins and supplements maker Schiff Nutrition International Inc. for $1.2 billion.
Bayer said Tuesday that the deal, slated to close by the end of this year, will boost its consumer care business by adding some well-known vitamin and dietary supplement brands, including MegaRed, Move Free and Airborne.
"This transaction represents an excellent strategic fit for our HealthCare business," stated Marijn Dekkers, chief executive officer of Bayer AG. "The Schiff business significantly enhances our presence and position in the United States, which accounts for more over-the-counter and nutritional products sales than any other country in the world."
Jorg Reinhardt, CEO of Morristown, N.J.-based Bayer HealthCare, commented, "We will utilize our extensive marketing, sales and distribution expertise to further develop the strong brands we are acquiring. We will also look to leverage Schiff’s new technology platforms with innovation potential for other Bayer-owned brands and markets globally."
With sales of about $259 million, Salt Lake City-based Schiff has a portfolio that includes strong brands in three of the largest health supplement segments: joint care (Move Free), cardiovascular health (MegaRed) and immune support (Airborne), among others.
"Schiff has a 75-year heritage of providing consumers with quality nutritional products," stated Schiff president and CEO Tarang Amin. "We are focused on building premium brands and leading innovation. We believe Bayer is well positioned to take our leading brands to the next level."
Other Schiff brands include Tiger’s Milk, Digestive Advantage and Schiff Vitamins.
