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SOLNA, Sweden — Meda has signed an agreement to acquire MidNite, a over-the-counter sleeping aid.
The Sweden-based company said Friday that the MidNite brand is well-established in the United States and holds a market-leading position in an expanding category.
Marketed by Concepts In Health Inc., the MidNite product line also includes MidNite PM and MidNite for Menopause.
Meda said the acquisition is expected to be accretive to earnings in 2013. Terms of the transaction weren’t disclosed.
"This acquisition enhances our presence in the U.S. ahead of other future OTC launches," Anders Lönner, chief executive officer of Meda AB, said in a statement.
