Jamieson Wellness has agreed to purchase Nutrawise Health and fitness & Beauty Corporation—an innovator, producer and marketer of premium dietary supplements underneath the youtheory brand in the U.S. and other intercontinental markets—for about US$210 million ($265 million) on closing, in addition prospective further thought contingent on reaching pre-identified growth targets put up-closing.
Management anticipates the transaction will close throughout Jamieson’s 3rd quarter 2022.
“This transaction is a main strategic milestone for Jamieson, accelerating our growth in the world’s premier vitamin, mineral and health supplement market place,” claimed Mike Pilato, president and CEO of Jamieson Wellness. “Youtheory’s co-founders Darren and Patty Impolite have built a outstanding enterprise and model that is highly complementary to our current portfolio and correctly aligned with our motivation to supplying consumers with higher-excellent products they can trust. The transaction is immediately accretive to Jamieson, and we see major alternatives for long run development synergies as we leverage our wide merchandise portfolio, ideal-in-course operational abilities and international footprint to speed up youtheory’s enlargement throughout several classes and channels in the United States and all over the planet.”
“Patty and I founded Nutrawise over 10 several years in the past with the mission to establish a company centered on integrity, authenticity and top quality,” reported Darren Rude, co-founder of Nutrawise. “Jamieson Wellness shares a comparable mission and values, and we are confident that the combination of Nutrawise, the youtheory brand and Jamieson’s abilities will further more speed up our development and carry on to support the overall health and wellness requirements of our customers.”