Aug.30 (Reuters) – Catalent Inc (CTLT.N), the contract drug maker known to make COVID-19 vaccines, on Monday announced it would buy gummy vitamin maker Bettera Holdings LLC for $ 1 billion in cash to expand into the nutritional supplement market.
Bettera, based in Texas, manufactures vitamins, supplements and minerals in the form of gummies, lozenges and chews. It is backed by the private investment firm Highlander Partners LP.
Chewable forms of vitamins, such as gummy candies, are growing in popularity, especially among people who have trouble swallowing pills, and the market is expected to reach $ 9.3 billion by 2026, according to a report. Allied Market Research.
Catalent, who has been involved in making COVID-19 vaccines, including those from Moderna (MRNA.O), AstraZeneca and Johnson & Johnson (JNJ.N), makes capsules that are easy to consume and available in a variety of flavors and sweeteners.
Centerview Partners LLC was Catalent’s financial advisor on the transaction, which is expected to close before the end of 2021.
The Wall Street Journal first reported the deal.
Reporting by Amruta Khandekar; Editing by Saumyadeb Chakrabarty
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