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Jamieson Acquires Youtheory
Jamieson has announced it has acquired Nutrawise Health & Beauty Corporation (which operates under the Youtheory brand) for approximately US$210 million including US$25 million in Jamieson Wellness common shares plus potential additional considerations if they achieve pre-determined growth targets post-sale. Jamieson offers a variety of supplements under its Jamieson, Progressive, Smart Solutions, Iron Vegan and Precision brands.
Why Did Jamieson Acquire Youtheory?
- This creates a platform for expansion in the U.S. supplement market.
- Premium brand and product offering highly complementary to Jamieson Brands’ portfolio. Mission-driven business culturally aligned with Jamieson’s focus on quality and holistic wellness.
- With the deal they acquire their manufacturing facility which will enhance available capacity and add new capabilities. Diverse product distribution with a strong presence in Club and Specialty and a growing presence in FDM and E-commerce.
- Proven marketing expertise with high customer loyalty and engagement metrics.
- Significant potential to leverage the broad Jamieson portfolio under the youtheory brand in the U.S.
“This transaction is a major strategic milestone for Jamieson, accelerating our expansion in the world’s largest vitamin, mineral and supplement market,” said Mike Pilato, President and CEO of Jamieson Wellness. “Youtheory’s co-founders Darren and Patty Rude have built a remarkable company and brand that is highly complementary to our existing portfolio and perfectly aligned with our commitment to providing consumers with high-quality products they can trust. The transaction is immediately accretive to Jamieson, and we see significant opportunities for future growth synergies as we leverage our broad product portfolio, best-in-class operational capabilities and global footprint to accelerate youtheory’s expansion across multiple categories and channels in the United States and around the world.”Darren and Patty Rude have committed to working with the Company to help drive mutual growth aspirations for the youtheory brand. “Patty and I founded Nutrawise over ten years ago with the mission to build a business based on integrity, authenticity and quality,” said Darren Rude, co-founder of Nutrawise. “Jamieson Wellness shares a similar mission and values, and we are confident that the combination of Nutrawise, the youtheory brand and Jamieson’s expertise will further accelerate our growth and continue to support the health and wellness needs of our consumers.”
SOURCE: Financial Post