US: Martek "gets closer to consumer" with Amerifit buy
Infant formula and supplements maker Martek Biosciences is set to buy consumer health and wellness company Amerifit Brands from Charterhouse Group for US$200m.
Amerifit develops, markets and distributes branded health and wellness products focused on women's and digestive health. The group's brands include Culturelle, Azo and Estroven.
Martek CEO Steve Dubin said that the deal would speed Martek's route-to-market for nutritional products.
"Amerifit's first-class sales and marketing infrastructure and proven management team for selling branded consumer health and wellness products provide Martek with a platform for accelerating the commercialization of our nutritional product pipeline," Dubin said.
"I am excited at the prospect of being able to develop consumer brands for some of the exciting new products in Martek's pipeline. This new capability will enable Martek to move up the value chain by getting closer to the consumer and should result in increased revenue and gross profit opportunities."
The all cash transaction is expected to be accretive to Martek's earnings in fiscal 2010, the company said.
US ingredients business Martek Biosciences Corp. has struck a deal to supply Chinese dairy Mengniu with its life'sDHA product....
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