Catalent to buy gummy vitamins maker Bettera for $1 bln – Reuters

Aug 30 (Reuters) – Catalent Inc (CTLT.N), the contract drug maker known for producing COVID-19 vaccines, stated on Monday it would purchase gummy vitamins maker Bettera Holdings LLC for $1 billion in cash to expand in the dietary supplements market.Texas-based Bettera makes vitamins, supplements and minerals delivered in the form of gummies, lozenges and chewables. It is backed by private investment company Highlander Partners LP.Chewable kinds of vitamins, such as gummies, are gaining popularity, particularly among individuals who find swallowing tablets hard, and the marketplace is expected to reach $9.3 billion by 2026, according to a report by Allied Market Research.Catalent, which has been included in the manufacturing of COVID-19 vaccines, including those from Moderna (MRNA.O), AstraZeneca and Johnson & & Johnson (JNJ.N), makes softgel pills which are easy to consume and come in a range of flavors and sweeteners.Centerview Partners LLC was the financial adviser to Catalent on the offer, which is anticipated to close before the end of 2021. The Wall Street Journal first reported the deal.Reporting by Amruta Khandekar; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Leave a Reply

Your email address will not be published.