Quebec-based Atrium Innovations (TSX: T.ATB, Stock Forum) announced Monday morning that it has acquired Nutri-Health Supplements, LLC of Arizona.
Atrium acquired NHS for a first consideration of US$23.9 million, with additional earn-out payments structured based on NHS' 2009 and 2010 EBITDA growth, says the company.
NHS owns proprietary Multi-Probiotic blends which include 16 probiotic strains that are “matrix encapsulated to survive stomach acid and deliver a high concentration of active cell cultures per capsule,” says Atrium.
"Buying Nutri-Health marks our first acquisition into the DTC segment with a company aligned with our values and objectives. NHS allows us to acquire complementary expertise in this market segment in which we had a limited business presence until now. This opens the door to promising, synergistic development opportunities within Atrium," said Pierre Fitzgibbon, president and chief executive officer of Atrium.
Atrium develops, manufactures and markets products for the health and nutrition industries. NHS markets, via multi-channel distribution, specialty niche products endorsed by health professionals.