Bayer is to acquire 70% of vitamin and health supplement company Care/of, as it plans to expand its nutrition business. The German drugmaker plans to grow the Care/of business across new channels, new categories, and new markets. According to undisclosed sources, Bayer is acquiring Care/Of in a transaction that values the company at $225 million, according to undisclosed sources.
According to the Bayer spokesperson Dan Childs, “the deal is an important milestone for both companies.” Care/Of sells vitamin subscriptions as well as accessories such as reusable drink bottles and coffee cups.
Bayer believes “this model and product type have the ability to expand into traditional retail channels as we aim to reach new consumers.”