Bayer Buys Utah Nutritional Supplement Company for Over 1 Billion–Schiff Nutrition
Posted Oct 31 2012 2:14am
Recently too Bayer purchased the pet and animal business from TEVA and this seems go along with what others pharmaceutical companies are doing as far as diversifying as prescription drugs come off patent. Most of the Schiff products are sold in retail locations with Costco and Wal-Mart have the lion’s share of the business and I see their products in Grocery stores too.
Bayer AG agreed to buy Utah’s Schiff Nutrition International Inc. for $1.1 billion to add a faster- growing vitamins and nutritional supplements business to the German drugmaker’s consumer-health unit.
The deal marks the third billion-dollar acquisition of a state-based company this year.
Schiff has a 75 year heritage of providing consumers with quality nutritional products," Tarang Amin, president and CEO of Schiff, said in a prepared statement. "We are focused on building premium brands and leading innovation. We believe Bayer is well positioned to take our leading brands to the next level."
Schiff sells its brands primarily through retail outlets, with Costco and Walmart its largest customers.