1. Aurobindo Pharma set to buy US-based Natrol for $132.5 m

Aurobindo Pharma set to buy US-based Natrol for $132.5 m

Aurobindo Pharma’s US subsidiary has emerged as the highest bidder for acquisition of Natrol Inc...

By: | Hyderabad | Published: November 13, 2014 12:48 AM

Aurobindo Pharma’s US subsidiary has emerged as the highest bidder for acquisition of Natrol Inc (a California-based nutritional supplement maker) and other affiliate entities under a process that will finally be approved by the United States Bankruptcy Court for the District of Delaware. In the process, Aurobindo Pharma USA emerged as the highest bidder with a bid of $132.5 million and an agreement to take on certain liabilities.

“While the company is yet to firm up plans for the domestic market in this segment, the move for the global markets is in the direction targeting the $35-billion US nutraceutical opportunity and this acquisition is a strategic fit,’’ an Aurobindo spokesperson told FE.

“Some investments are happening on an ongoing basis focusing on US and European pharmaceutical OTC,’’ the spokesperson added.

Natrol, which manufactures and sells nutritional supplements in the US and other international markets, had filed a bankruptcy petition with the US Bankruptcy Court in Wilmington, Delaware district in the US, in June this year. Natrol supplies retailers with natural products such as acai berry and melatonin, as well as vitamins and a sports-nutrition line of products.

Aurobindo believes Natrol is an excellent strategic fit and provides the right launch pad for creating a fully-integrated OTC platform in the US and other international markets. Natrol will provide Aurobindo with strong brand reputation and presence in a variety of attractive supplement markets, along with health food and speciality channels.

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