Bayer (OTCPK:BAYRY) has agreed to buy 70% of online vitamin and health supplement company Care/of in a deal that values the company at $225M, with an option to buy the rest by 2022, Bloomberg reports.
Bayer believes “this model and product type has the ability to expand into traditional retail channels as we aim to reach new consumers,” the company says, adding it will “grow the Care/of business across new channels, new categories and new markets to deliver even more personalized nutrition.”
The latest deal follows Bayer’s agreement earlier this month to buy British women’s health biotech Kandy Therapeutics in an $875M deal.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.