RONKONKOMA, N.Y., July 14 NBTY, Inc. (NYSE: NTY)(www.NBTY.com), a leading global manufacturer and marketer of nutritionalsupplements, today announced that it has completed the purchase ofsubstantially all of the assets of Leiner Health Products Inc. forapproximately $371 million. The terms of the Asset Purchase Agreement providefor various working capital adjustments.
NBTY is acquiring substantially all of Leiner's assets, including its U.S.store brand vitamins, minerals and supplements products as well as Vita HealthProducts, Inc., Leiner's Canadian subsidiary.
Moelis & Company LLC provided advisory services and Farrell Fritz, P.C.provided legal advice in connection with the acquisition.
NBTY Chairman and CEO, Scott Rudolph, said: "The Leiner acquisition willfurther enhance our manufacturing capabilities and dominant market presence asthe worldwide leader in the nutritional supplement industry. NBTY's historyof successful strategic acquisitions reflects our commitment to generatinggrowth, providing the highest quality service to our customers and increasingshareholder value."
About Leiner Health Products
Founded in 1973 and headquartered in Carson, California, Leiner HealthProducts is America's leading manufacturer of store brand vitamins, minerals,and nutritional supplements and supplies the food, drug, mass merchant andwarehouse club retail market. Leiner provides leading retailers with over2,000 products to help its customers create and market high-quality storebrands at low prices. It is also the largest supplier to the U.S. militaryand markets its own brand of vitamins under YourLife(R).
NBTY is a leading global vertically integrated manufacturer, marketer anddistributor of a broad line of high-quality, value-priced nutritionalsupplements in the United States and throughout the world. Under a number ofNBTY and third party brands, the Company offers over 22,000 products,including products marketed by the Company's Nature's Bounty(R)(www.NaturesBounty.com), Vitamin World(R) (www.VitaminWorld.com), Puritan'sPride(R) (www.Puritan.com), Holland & Barrett(R) (www.HollandAndBarrett.com),Rexall(R) (www.Rexall.com), Sundown(R) (www.SundownNutrition.com), MET-Rx(R)(www.MetRX.com), Worldwide Sport Nutrition(R) (www.SportNutrition.com),American Health(R) (www.AmericanHealthUS.com), GNC (UK)(R) (www.GNC.co.uk),DeTuinen(R) (www.DeTuinen.nl), LeNaturiste(TM) (www.LeNaturiste.com), SISU(R)(www.SISU.com), Solgar(R) (www.Solgar.com), Good 'n' Natural(R)(www.goodnnatural.com), Home Health(TM) (www.homehealthus.com) and Ester-C(R)(www.Ester-C.com) brands.
This release contains certain forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995 with respectto our financial condition, results of operations and business. Theseforward-looking statements can be identified by the use of terminology such as"subject to," "believe," "expects," "plan," "project," "estimate," "intend,""may," "will," "should," "can," or "anticipates," or the negative thereof, orvariations thereon, or comparable terminology, or by discussions of strategy.Although all of these forward looking statements are believed to bereasonable, they are inherently uncertain. Factors which may materiallyaffect such forward-looking statements include: (i) slow or negative growth inthe nutritional supplement industry; (ii) interruption of business or negativeimpact on sales and earnings due to acts of God, acts of war, terrorism, bio-terrorism, civil unrest or disruption of mail service; (iii) adverse publicityregarding nutritional supplements; (iv) inability to retain customers ofcompanies (or mailing lists) recently acquired; (v) increased competition;(vi) increased costs; (vii) loss or retirement of key members of management;(viii) increases in the cost of borrowings and/or unavailability of additi