Higher bid could sink Bayer’s $1.2bn attempt to buy vitamins and nutritional supplements company
Bayer’s $1.2 billion (£740 million) bid for Schiff Nutrition, a US company specialising in vitamins and nutritional supplements, could be in trouble following a higher bid from another company. UK consumer goods giant Reckitt Benckiser has announced it is willing to pay $1.4 billion for Schiff.
‘This acquisition would provide a powerful entryway into the large and rapidly growing $30 billion global VMS [vitamin, minerals and supplements] market,’ said Reckitt Benckiser chief executive Rakesh Kapoor. ‘We are confident that the VMS market drivers, notably changing demographics and increased awareness of the health and wellness benefits of VMS products, will provide significant long term growth potential in what is currently a very fragmented market.’
Schiff was worth $259 million in sales in its 2011–12 financial year and currently employs 400 people at its headquarters and manufacturing site in Salt Lake City, Utah, and offices in Emeryville, California. Its portfolio includes big brands in the joint care (Move Free), cardiovascular health (MegaRed) and immune support (Airborne) markets.