Nutritional supplement company NBTY has announced that it has signed a contract to acquire, for $115 million, substantially all the assets of Solgar Vitamin and Herb, a division of Wyeth Consumer Healthcare.

Solgar, a supplement company established in 1947, had sales for 2004 of approximately $105m, NBTY said.  Included in the acquisition are net assets of approximately $64m. 

The purchase price will be adjusted based upon the actual net assets transferred at closing.  The transaction is subject to regulatory and other customary approvals and is expected to close by August 2005.

"Solgar will strengthen NBTY's presence in the health food store market," said NBTY chairman and CEO Scott Rudolph. "The Solgar brand will be focused on serving the needs of the independent health food store across the United States.  It is a significant opportunity for NBTY to grow both domestically and internationally