APUSA emerged as the highest and best bidder to acquire assets of Natrol under the auction process by the United States Bankruptcy Court for the District of Delaware
Aurobindo Pharma announced the completion of acquisition of assets of nutritional supplement maker, Natrol and other affiliate entities (‘Natrol’) through its wholly-owned subsidiary Aurobindo Pharma USA (APUSA). APUSA emerged as the highest and best bidder to acquire assets of Natrol under the auction process by the United States Bankruptcy Court for the District of Delaware was previously announced on November 12, 2014.
APUSA acquired the manufacturing assets, personnel, commercial infrastructure including the well established nutraceuticals brands in the US of Natrol along with an agreement to take on certain liabilities, with a bid of $132.5 million. The assets have been acquired under a wholly-owned subsidiary ‘Nature Acquisition’ and since changed to ‘Natrol’. The final terms of acquisition are the same as originally envisaged during announcement made earlier. APUSA expects the profitability to improve by combining the strength of both enterprises in creating a fully integrated nutraceuticals platform in the US and other international markets.
Mesrop Khoudagoulian, Chief Executive Officer, Natrol commented, “I am pleased that Aurobindo recognises the values of Natrol’s uncompromised quality products, loyal customers, talented employees and solid relationships with our retailer partners. 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.”
N Govindarajan, Managing Director, Aurobindo stated, “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.”
EP News Bureau – Mumbai