Reckitt steps into Schiff deal


Bayer’s $1.2 billion (£740 million) bid for Schiff Nutrition, a US company specialising in vitamins and nutritional supplements, could be in trouble following a higher bid from another company. UK consumer goods giant Reckitt Benckiser has announced it is willing to pay $1.4 billion for Schiff.

‘This acquisition would provide a powerful entryway into the large and rapidly growing $30 billion global VMS [vitamin, minerals and supplements] market,’ said Reckitt Benckiser chief executive Rakesh Kapoor. ‘We are confident that the VMS market drivers, notably changing demographics and increased awareness of the health and wellness benefits of VMS products, will provide significant long term growth potential in what is currently a very fragmented market.’

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. Its portfolio includes big brands in the joint care (Move Free), cardiovascular health (MegaRed) and immune support (Airborne) markets.

 


Related Content

Schiff seals deal with Reckitt

23 November 2012 Business

news image

Boards approves $1.4 billion Reckitt offer as Bayer pulls out of running

BMS sells OTC drugs for $482m

14 February 2013 Business

news image

Bristol-Myers Squibb will offload rights to a range of over-the-counter products to Reckitt Benckiser

Most Commented

WHO clarifies glyphosate risks

23 May 2016 Business

news image

UN and WHO panel conclude the herbicide glyphosate is ‘unlikely’ to cause cancer at realistic exposure levels

Large HIV vaccine trial to launch in South Africa

24 May 2016 News and Analysis

news image

US funding agency will enlist 5400 people for HIV vaccine study in South Africa in November