Reckitt steps into Schiff deal
19 November 2012 Business
Higher bid could sink Bayer's $1.2bn attempt to buy vitamins and nutritional supplements company
Bayer spends $1.2bn on supplement maker
31 October 2012
German healthcare giant Bayer has struck a deal to buy Schiff Nutrition, a US company specialising in vitamins and nutritional supplements, for $1.2 billion (£740 million).
Schiff was worth $259 million in sales in its 2011-12 financial year and currently employs 400 people at its headquarters and manufacturing site in Salt Lake City, Utah, and offices in Emeryville, California.
‘The Schiff business significantly enhances our presence and position in the US, which accounts for more over-the-counter and nutritional products sales than any other country in the world,’ said Bayer chief executive Marijn Dekkers.
The Schiff portfolio includes big brands in the joint care (Move Free), cardiovascular health (MegaRed) and immune support (Airborne) markets.
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