US health food retailer The Vitamin Shoppe is being acquired by the tax return preparation specialist Liberty Tax in a deal worth around $208 million.
The New Jersey headquartered retailer, which operates 780 store nationwide, is one of America’s leading speciality retailers of nutritional products, including supplements, sports nutrition and personal care lines.
The transaction is expected to be completed in the fourth quarter of 2019.
“We are committed to transforming into an agile, customer-first organization”
Sharon Leite, CEO of The Vitamin Shoppe, stated, “The transaction…delivers long-term benefits to our associates, customers and business partners. It provides an immediate premium to our current shareholders and aligns The Vitamin Shoppe with a partner that shares our strategic vision to unlock the further potential of The Vitamin Shoppe as a leader in health and wellness. We are committed to transforming into an agile, customer-first organization that differentiates our brand through best-in-class quality, innovation and expertise across our products and services.”
Pat Cozza, an independent member of the board of directors of Liberty Tax, stated: “We have great confidence in the value of The Vitamin Shoppe, its ongoing strategic reinvention plan and the outstanding efforts of The Vitamin Shoppe leadership team and associates. We believe that The Vitamin Shoppe is an excellent fit for Liberty Tax’s previously announced strategy to acquire franchise-centric businesses, and demonstrates the commitment of Liberty Tax, its board and management team to implement the previously announced strategic transformation of Liberty Tax.”