Aurobindo Pharma completes $132.5-million Natrol acquisition
NEW DELHI: Drug firm Aurobindo PharmaBSE -0.68 % has completed the acquisition of assets of nutritional supplement maker Natrol Inc and its other affiliate entities for $ 132.5 million (over Rs 810 crore).
Aurobindo Pharma acquired “manufacturing assets, personnel, commercial infrastructure including the well established nutraceuticals brands in USA of Natrol along with an agreement to take on certain liabilities, with a bid of $ 132.5 million”, the company said in a statement.
The company had emerged as the highest bidder to acquire assets of Natrol under the auction process by the United States Bankruptcy Court for the District of Delaware.
“The assets have been acquired under a wholly owned subsidiary ‘Nature Acquisition LLC’ and since changed to ‘Natrol LLC’. The final terms of acquisition are the same as originally envisaged during announcement made earlier,” the statement said.
“Natrol comes with certain well established brands and an extensive distribution network consisting of retail pharmacy chains and speciality health food stores, to help us tactically position ourselves in the US nutraceuticals space and offer an effective growth strategy to expand market penetration going forward,” Aurobindo Pharma Managing Director N Govindarajan said.
“We look forward to working with the Aurobindo team to further expand our over-the-counter product portfolio and our reach with the financial support of strong owners,” Natrol CEO Mesrop Khoudagoulian said.
Shares of Aurobindo Pharma today closed at Rs 1,123.60 on BSE, down 0.68 per cent from previous close.