Martek Biosciences to acquire Amerifit Brands for $200 million
22 Jan 2010
Martek Biosciences Corporation, a maker of infant formula and dietary supplements yesterday disclosed plans to acquire Amerifit Brands Inc., a consumer health and wellness company, from private-equity firm Charterhouse Group, in an all-cash transaction for $200 million to help it expand its non-infant-formula market business.
Under the terms of the transaction announced yesterday, Martek will pay privately held Hartford, Connecticut-based Amerifit $200 million, of which $120 million will be paid from Martek's current cash reserves and the remainder from a new credit facility which has been established by Martek.
Amerifit Brands Inc. is a health and wellness company that makes Estroven, a supplement for providing relief of menopausal symptoms, AZO, the over-the-counter drug that treats the symptoms of urinary tract infections and Culturelle, a probiotic supplement that regulates the digestive system.
For 2009, Amerifit had sales of $81.4 million and $22.2 million in earnings before interest, taxes, depreciation and amortisation.
Maryland-based Martek is a leader in the innovation and development of omega-3 DHA products that promote health and wellness through every stage of life.
The company produces life'sDHA, a vegetarian source of the omega-3 fatty acid DHA, for use in foods, infant formula and supplements, and life'sARA, an omega-6 fatty acid, for use in infant formula.