Regions

India's Aurobindo to buy U.S. nutritional supplements maker for $133 million

Close
November 12
4:01 AM 2014

Indian generic drugmaker Aurobindo Pharma Ltd (ARBN.NS) said on Wednesday its U.S. unit won a bankruptcy auction to buy nutritional supplements maker Natrol Inc for $132.5 million.

Aurobindo said the deal with Chatsworth, California-based Natrol, which sells vitamins and supplements as well as diet and weight management products, will help the company expand its over-the-counter products business in the United States.

The deal is pending final approval by the United StatesBankruptcy Court for the District of Delaware, Aurobindo said in a statement.

Barclays provided financial advice to Aurobindo on the deal, while Sullivan & Cromwell LLP was the company's legal counsel.

Aurobindo's shares were up 4 percent at 1,066 rupees at 11.47 p.m. ET on Wednesday, while the NSE index .NSEI was up 0.4 percent.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics