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Hyderabad-based drugs maker Aurobindo Pharma Limited on Friday stated it had completed acquisition of assets of the US-based nutritional supplement maker Natrol Inc and other affiliate entities through its wholly-owned subsidiary Aurobindo Pharma USA Inc (APUSA).
Aurobindo had earlier stated APUSA had 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.
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 (about Rs 820 crore). The assets have been acquired under a wholly-owned subsidiary ‘Nature Acquisition LLC’ and since changed to Natrol LLC.
APUSA expects the profitability to improve by combining the strength of both enterprises in creating a fully integrated nutraceuticals platform in the USA and other international markets.
“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,” Natrol chief executive officer, Mesrop Khoudagoulian, stated in a press release.
“Natrol comes with certain well-established brands and an extensive distribution network consisting of retail pharmacy chains and specialty 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 managing director, N Govindarajan, said.
