LEVERKUSEN, Germany, MORRISTOWN, N.J., SALT LAKE CITY, Oct. 30, 2012 /PRNewswire/ --Bayer HealthCare LLC has signed a merger agreement to acquire Schiff Nutrition International, Inc. (SHF), a leading company offering vitamins and nutritional supplements in the United States and other countries. Schiff's product portfolio includes core brands MegaRed, Move Free and Airborne, among others. The transaction values Schiff at approx. US$1.2 billion (approx. 920 million) representing US$34 per share in cash. Closing is subject to customary closing conditions and is expected by year end 2012.
"Bayer is committed to augment its organic growth with strategic bolt-on acquisitions. This transaction represents an excellent strategic fit for our HealthCare business," said Dr.Marijn Dekkers, CEO 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."
"We will utilize our extensive marketing, sales and distribution expertise to further develop the strong brands we are acquiring," said Dr. Jorg Reinhardt, CEO of Bayer HealthCare. "We will also look to leverage Schiff's new technology platforms with innovation potential for other Bayer-owned brands and markets globally."
Tarang P. Amin, President and CEO of Schiff, said, "Schiff has a 75 year heritage of providing consumers with quality nutritional products. 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."
Schiff generated net sales of US$259 million (approx. 200 million) for its fiscal year ended May 31, 2012. On September 18, 2012, Schiff publicly announced that net sales for fiscal year 2013 were projected to grow between 43 and 46 percent. Expected sales growth includes contributions from new products and brand building as well as Airborne, which was acquired by Schiff on March 30, 2012.
The company employs approximately 400 people with its headquarters and manufacturing site based in Salt Lake City, Utah, as well as offices in Emeryville, California. The Schiff portfolio includes strong brands in three of the largest health supplement segments including Joint Care (Move Free), Cardiovascular Health
(MegaRed) and Immune Support (Airborne), among others. These products complement Bayer's existing OTC portfolio and will allow it to provide consumers with a broad range of options in these key segments.
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. As an inventor company, it sets trends in research-intensive areas. Bayer's products and services are designed to benefit people and improve the quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and acts as a socially and ethically responsible corporate citizen. In fiscal 2011, the Group employed about 112,000 people and had sales of 36.5 billion. Capital expenditures amounted to 1.7 billion, R&D expenses to 2.9 billion. For more information, go to http://www.bayer.com.
About Bayer HealthCare
Go here to read the rest:
Bayer to acquire Schiff Nutrition International for US$ 1.2 billion
- Social Diet Hack - October 11th, 2010 [October 11th, 2010]
- How to get Perfect Abs - October 11th, 2010 [October 11th, 2010]
- Nutrition and Your Mental Health - August 27th, 2011 [August 27th, 2011]
- Superpump Max Gaspari Nutrition Pre Workout Supplement Review - August 27th, 2011 [August 27th, 2011]
- 7 Nutrition Fundamentals for Losing Fat - August 28th, 2011 [August 28th, 2011]
- P90X Nutrition Plan - TurboFire Foods - From COSTCO - September 21st, 2017 [August 28th, 2011]
- Reading Nutritional Labels - September 21st, 2017 [August 29th, 2011]
- Better Food Pyramid, What to Eat, Nutrition by Natalie - August 29th, 2011 [August 29th, 2011]
- Pre Workout Nutrition and Building Muscle - August 31st, 2011 [August 31st, 2011]
- Nutrition Facts Labels, How to Read, FAQ, About Part 1 - September 21st, 2017 [August 31st, 2011]
- Pre and Post Workout Nutrition - August 31st, 2011 [August 31st, 2011]
- One Nutrition One Nation Season 1 Episode 5 part 3 - September 1st, 2011 [September 1st, 2011]
- 5 Diet and Nutrition tips - September 2nd, 2011 [September 2nd, 2011]
- Chronic Fatigue Syndrome - Clinical Nutrition - September 3rd, 2011 [September 3rd, 2011]
- Healthy Breakfast Food Recipes - Nutrition by Natalie - September 21st, 2017 [September 4th, 2011]
- 6-pack abs part2, Nutrition - September 5th, 2011 [September 5th, 2011]
- Top Nutrition Tips For Rugby - September 6th, 2011 [September 6th, 2011]
- FIRSTFITNESS NUTRITION - SOCIAL MEDIA - Where should I start? - September 6th, 2011 [September 6th, 2011]
- Crossfit Nutrition - September 8th, 2011 [September 8th, 2011]
- Ten Dangerous Nutritional Myths - September 9th, 2011 [September 9th, 2011]
- Top 10 Worst Foods - Nutrition By Natalie - September 10th, 2011 [September 10th, 2011]
- Gaspari Nutrition - IntraPro - September 10th, 2011 [September 10th, 2011]
- Labrada Nutrition STIMFORCE Pre Workout Supplement Review - September 11th, 2011 [September 11th, 2011]
- Nutrition - September 14th, 2011 [September 14th, 2011]
- Top 10 Worst Drinks - Nutrition by Natalie - September 14th, 2011 [September 14th, 2011]
- Top 10 Best Foods - Nutrition by Natalie - September 20th, 2011 [September 20th, 2011]
- Nutrition and Cancer - September 22nd, 2011 [September 22nd, 2011]
- NUTRITION: The Dirt Facts -MUST KNOW INFORMATION! P.1 - September 23rd, 2011 [September 23rd, 2011]
- Crossfit Supplements - September 24th, 2011 [September 24th, 2011]
- Bodybuilding Diet Tips: Bodybuilding Nutrition, Workout, Bodybuilders, Muscles, MuscleTech - September 25th, 2011 [September 25th, 2011]
- Simple Bodybuilding Nutrition - September 26th, 2011 [September 26th, 2011]
- Eat Healthy Food on a Budget Tips - Nutrition by Natalie - September 28th, 2011 [September 28th, 2011]
- The Truth about Vitamins - September 30th, 2011 [September 30th, 2011]
- Weight loss, Sugar Addiction, Glycemic Index, GI, Nutrition - October 3rd, 2011 [October 3rd, 2011]
- Whole Foods vs. Processed Foods - Nutrition by Natalie - October 10th, 2011 [October 10th, 2011]
- 'Conscious Nutrition' by Tony Samara • www.TonySamara.org - October 10th, 2011 [October 10th, 2011]
- Digestive Enzymes, Nutrition and Your Health - October 10th, 2011 [October 10th, 2011]
- Top Ten Obesity Causing Foods -- Psychetruth Nutrition - October 10th, 2011 [October 10th, 2011]
- Is Fruit Good or Bad? Nutrition by Natalie - October 10th, 2011 [October 10th, 2011]
- Worst Fast Food Items, Nutrition by Natalie - September 21st, 2017 [October 10th, 2011]
- Healthy Weight Loss Tips - Nutrition by Natalie - October 10th, 2011 [October 10th, 2011]
- Hungry? Hunger Control, Cravings, Weight Loss, Nutrition - October 10th, 2011 [October 10th, 2011]
- Children's Nutrition (Part 1) - October 10th, 2011 [October 10th, 2011]
- Bed Time Nutrition to Build Muscle Fast - October 10th, 2011 [October 10th, 2011]
- Nutrition Business Blueprint - Start Your Home Based Nutrition Business (John Spencer Ellis) - October 10th, 2011 [October 10th, 2011]
- Community-based nutrition programme targets children at risk in Ethiopia - October 10th, 2011 [October 10th, 2011]
- Sports nutrition - October 10th, 2011 [October 10th, 2011]
- Nutrition Expert Offers Lunch-Packing Tips - October 10th, 2011 [October 10th, 2011]
- Fit Tip Nutrition Good VS Bad Fat, Protein and Carbohydrates - October 10th, 2011 [October 10th, 2011]
- Biology 1B - Lecture 14: Water Relations, Mineral Nutrition, - October 10th, 2011 [October 10th, 2011]
- Skinny Guys Ectomorph Nutrition to Gain Weight - October 10th, 2011 [October 10th, 2011]
- Endomorph Nutrition Tips and Advice - October 10th, 2011 [October 10th, 2011]
- Epic Meal Time (Food and Nutrition) With DySent - October 10th, 2011 [October 10th, 2011]
- Top 10 Healthy, Alkalizing Foods for Energy, PsycheTruth Nutrition - October 10th, 2011 [October 10th, 2011]
- Battling Cancer: Nutrition Plays A Vital Role In Treatment - October 10th, 2011 [October 10th, 2011]
- Nutrition and Behavior; Aspartame, MSG, Excitotoxins - Dr.Russell Blaylock - October 11th, 2011 [October 11th, 2011]
- Kiwanis Marbel 500. Nutrition Month. 2nd of 7th Parts (72711)Milk Expression Contest! - September 21st, 2017 [October 11th, 2011]
- TK Chapter 1 Nutrition Lecture - October 11th, 2011 [October 11th, 2011]
- Rich Gaspari, CEO of Gaspari Nutrition - Walking The Walk, Episode 1 - October 11th, 2011 [October 11th, 2011]
- Optimum Nutrition | Chest Workout and Platinum Hydrobuilder with Charles Glass and Steve Cook - October 11th, 2011 [October 11th, 2011]
- Predator Nutrition: Barbell Lunge Tutorial - October 11th, 2011 [October 11th, 2011]
- Weight Loss Motivation- Health or Beauty, The Photoshop Effect, Psychetruth Nutrition - October 11th, 2011 [October 11th, 2011]
- Nutrition Videos - October 11th, 2011 [October 11th, 2011]
- Nutrition Before Weight Lifting Routine - PreWorkout Advice - October 11th, 2011 [October 11th, 2011]
- Optimum Nutrition 100% Whey Gold Standard Supplement Review - October 11th, 2011 [October 11th, 2011]
- The Year of Healthy Living: Nutrition and Healthy Eating - October 13th, 2011 [October 13th, 2011]
- Nutrition For Attention Deficit Hyperactivity Disorder ADHD - Educational Video - October 13th, 2011 [October 13th, 2011]
- War Against Alternative Health Care - October 13th, 2011 [October 13th, 2011]
- Is Bread Killing You? Gluten Intolerance, Nutrition Health - Video - October 14th, 2011 [October 14th, 2011]
- Nutrition in a Bottle: Vitamins Minerals and Supplements - Video - October 14th, 2011 [October 14th, 2011]
- The Truth about MSG Monosodium Glutamate Clinical Nutrition - Video - October 14th, 2011 [October 14th, 2011]
- How Much Protein? Fitness Nutrition - Video - October 15th, 2011 [October 15th, 2011]
- Diet and Nutrition - Video - October 16th, 2011 [October 16th, 2011]
- Super Food - October 16th, 2011 [October 16th, 2011]
- IBS Irritable Bowel Syndrome - Part 1 - Nutrition by Natalie - Video - October 16th, 2011 [October 16th, 2011]
- Super Foods - The Truth about Coconut - Nutrition by Natalie - Video - October 16th, 2011 [October 16th, 2011]
- The Dead Milkmen- Nutrition. - Video - October 20th, 2011 [October 20th, 2011]
- Top 5 Simple Nutrition Tips for Rapid Fat Loss (Lose Weight!) - Video - October 20th, 2011 [October 20th, 2011]
- Flaxseed, Super Food - October 20th, 2011 [October 20th, 2011]
- Nutrition - Video - October 20th, 2011 [October 20th, 2011]