NBTY to buy UK's Dr. Organic for $86 million
Here are some of the vitamins and nutritional supplements made by Ronkonkoma-based NBTY. Credit: NBTY
NBTY Inc., a Ronkonkoma-based maker and retailer of vitamins and nutritional supplements, said it would acquire the British producer of skin care products Dr. Organic Ltd. for the equivalent of about $86 million at Monday's currency exchange rates.
The mostly cash deal of 55 million British pounds, is expected to close by the end of this year.
"We believe the acquisition will allow us to accelerate NBTY's entry into the mass-market beauty and skin care category particularly in the U.S.," NBTY president and chief executive Steve Cahillane said in a statement.
The Dr. Organic brand, first sold exclusively at NBTY's Holland & Barrett retail chain in the United Kingdom, was brought to the United States in 2013 under the Organic Doctor brand name. It was sold exclusively through NBTY's Vitamin World retail division.
Dr. Organic was founded in 2008.
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