Highlander Partners Announces the Signing of a Definitive Agreement to Sell Bettera Brands to Catalent
2021年8月30日 - 8:00PM
ビジネスワイヤ(英語)
Highlander Partners (“Highlander”) today announced that it has
entered into a definitive agreement under which Catalent, Inc.
(NYSE: CTLT) will acquire Highlander’s portfolio company, Bettera
Holdings, LLC, the parent company of Bettera Brands (“Bettera”),
for $1 billion. Bettera is a major manufacturer in the high-growth
gummy, soft chew, and lozenge segments of the nutritional
supplements market. Bettera, headquartered in Plano, Texas,
maintains four manufacturing operations in California, Virginia,
New Jersey and Indiana.
Highlander formed Bettera through a series of four acquisitions
beginning in 2017 and shaped it into a leading manufacturer of
consumer-preferred, high quality ingredient nutritional vitamins,
minerals and supplements.
“In 2017, we started with a simple investment thesis of creating
manufacturing capabilities around fortified/functional products in
consumer-preferred formats,” stated Jeff L. Hull, President and CEO
of Highlander Partners. “As consumers have become increasingly
health-conscious, functional products in gummy, soft chew, and
lozenge delivery forms have developed and grown to become a
significant part of the market. Given the substantial advances in
delivery technologies, along with the increased health awareness,
consumers are embracing these experiential formats as part of their
everyday wellness routine.”
Jeff Partridge, a Partner with Highlander who also served as
Bettera’s CEO, added, “We identified a need early on and quickly
assembled assets and a management team to capitalize on the demand
and growth. Developing certified facilities, maintaining strict
compliance standards, and creating highly technical research and
development capabilities was not an easy task. It is very
gratifying to see the business that Bettera has evolved into, and
we believe Catalent is the right company to take this business to
the next level.”
“As the leading global innovator of softgel and oral
technologies, Catalent has a strong, long-standing presence in the
rapidly expanding consumer health and nutraceutical marketplace.
This acquisition allows us to significantly accelerate the growth
of our consumer health business and offer customers access to the
substantial potential in gummies, soft chews, and lozenges, which
are all experiencing double-digit growth,” commented Dr. Aris
Gennadios, President, Softgel and Oral Technologies, Catalent.
“This acquisition is a key strategic move for Catalent’s Consumer
Health business, where our leadership in manufacturing technologies
and formulation can offer customers more product development
opportunities and add manufacturing capacity in this dynamic and
growing segment.”
The transaction is expected to close by the end of 2021 and is
subject to customary closing conditions. Katten is serving as legal
counsel to Highlander. Fried Frank is acting as legal counsel to
Catalent.
About Bettera
Bettera Brands is a leading manufacturer of gummy vitamin, soft
chews and lozenges primarily focusing on using confections as
delivery systems for vitamins, minerals, supplements, and other
functional ingredients. The Company has fully integrated
manufacturing capabilities and state-of-the-art production
facilities located in Indiana, Virginia, New Jersey and California
that are SQF Level 3 and CFR 111 certified. For more information,
please visit our website at www.bettera.com.
About Highlander Partners
Highlander Partners is a Dallas-based private investment firm
which manages over $2 billion of its own proprietary capital. The
firm focuses on making investments in businesses in targeted
industries in which the principals of the firm have significant
operating and investing experience. Highlander Partners uses a “buy
and build” investment approach, creating value by helping companies
grow organically and through acquisitions. For more information,
visit www.highlander-partners.com.
About Catalent
Catalent is the leading global provider of advanced delivery
technologies, development, and manufacturing solutions for drugs,
biologics, cell and gene therapies, and consumer health products.
With over 85 years serving the industry, Catalent has proven
expertise in bringing more customer products to market faster,
enhancing product performance and ensuring reliable global clinical
and commercial product supply. Catalent employs approximately
15,000 people, including over 2,400 scientists and technicians, at
more than 45 facilities, and in fiscal year 2020 generated over $3
billion in annual revenue. Catalent is headquartered in Somerset,
New Jersey. For more information, visit www.catalent.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210830005087/en/
PR Contact: Jeff Hull Highlander Partners
jhull@highlander-partners.com
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