International Vitamin Corporation Becomes Leading Private Label Vitamin Company With Agreement To Acquire Perrigo U.S. Vitamin, Mineral & Supplement Business
Freehold, NJ (PRWEB) June 20, 2016
International Vitamin Corporation (IVC), Inc., announced that it has reached a definitive agreement to acquire all assets of Perrigo’s U.S. vitamin, mineral and supplement business, for an undisclosed sum. The transaction will position IVC as the leading private label nutritional supplement company in the United States, and will enhance IVC’s product portfolio.
The cash purchase will strengthen IVC’s existing leadership in the United States food, drug, mass and club retail channels and is expected to help diversify and grow its contract business.
The agreement is expected to add additional manufacturing, packaging and distribution operations to better serve both mass market and specialty contract customers.
IVC President & CEO Steven Dai commented, “IVC is very excited to be able to serve and help build the businesses of Perrigo’s vitamin customers. Retailers will have access to even more innovation, a more efficient supply chain and greater manufacturing capabilities, while consumers will benefit from continued high quality standards and maximum value.”
Looking toward the future, Steven Dai adds, “Other recent acquisitions have helped IVC expand our business into high growth powders and sports nutrition. While our organic growth remains high, I expect additional acquisitions to help us enter new product categories, new channels and new geographies.”
Perrigo CEO John T. Hendrickson commented, “Our decision late last year to divest the U.S. VMS business was part of our ongoing portfolio assessment and ensures that we remain focused on our most profitable and strategic businesses. Having explored various options over the past several months, we are pleased to have reached an agreement to sell the business to IVC. We look forward to working with the IVC team to seamlessly transition the business and ensure that our customers continue to receive exceptional service during this transitional period. Finally, we would like to take this opportunity to thank the more than 300 Perrigo employees who are dedicated to the VMS business for all of their contributions to Perrigo and to wish them all the very best going forward.”
About International Vitamin Corporation
For more than half a century, IVC has been producing some of the highest quality dietary supplements for leading food, drug, mass and club retailers in the U.S. – as well as nutritional, prescription and OTC products for contract customers throughout the world. IVC’s ability to deliver on innovation, quality and supply chain efficiency has enabled IVC to become the largest, and fastest growing private label nutritional supplement company. To learn more information about IVC visit http://www.ivcinc.com
For the original version on PRWeb visit: http://www.prweb.com/releases/2016/06/prweb13497810.htm