Liberty Tax acquires The Vitamin Shoppe in an all cash deal worth $208 million
The sale was valued at $6.50 per share, which was a 59% premium over the company’s 30-day weighted average stock price. The Vitamin Shoppe reported $1.11 billion in sales in 2018. For 2017, the figure was $1.15 billion and in 2016 sales were $1.29 billion.
Liberty Tax is the parent company of Liberty Tax Service, a chain of franchise tax preparation outlets. Earlier this summer the company announced a plan for strategic acquisitions. The first of these was the purchase of Buddy’s Home Furnishings, a rent-to-own furniture store chain.
Liberty says it intends to finance The Vitamin Shoppe transaction with up to approximately $170 million in debt financing and a combination of available cash and/or through the issuance of common stock of Liberty Tax.
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Activia enters fermented food category with new Live Culture Smoothies
France’s Danone has announced the launch of a new range of fermented products under its Activia brand.
As reported by NutraIngredients Europe, the products are formulated with Activia yogurt with added fruit and veg plus billions of live cultures to aid gut health.
“We are continually adapting our range of fermented products to ensure that we are meeting evolving consumer demands. We know that younger consumers in particular want both nutrition and convenience - rather than having to choose between one or the other,” said Ben Kind, Activia’s brand manager.
“This is big step change for Activia, entering into a new category and shelf position. We’re confident our brand credentials and fantastic new range will open up great potential to leverage the growth of fermented products.”
Blackmores profits drop amid struggles in China
Australian supplement firm Blackmores reported its profits dropped 24% over the last year, with much of this linked to struggles in China.
According to NutraIngredients-Asia, key exports accounts and in-country sales in China were down 15% year-on-year.
“We continue to see an ongoing evolution in the way Chinese consumers access our products, with a shift away from Australian retailers to more direct purchasing from e-commerce platforms in China,” the firm said in its financial report.
Despite this bas news, the company reported surging sales in Vietnam (157% growth) and Indonesia (90% growth).
The firm remained the market leader in Australia with a market share of 15.9%, with a “strong gap over the nearest domestic competitor”.