NEW YORK, Dec 7 (Reuters) - Canadian vitamin maker Jamieson Laboratories is in advanced talks to sell itself in a takeover that is expected to be announced in the near future, a source directly familiar with the matter said on Friday, continuing a spate of deals in the nutrition industry.
It was not immediately clear how much the deal would be worth or who the acquirer would be, but privately-held Jamieson has annual revenue of about $250 million and earnings before interest, tax, depreciation and amortization (EBITDA) of around $30 million, said the source, who declined to be identified as the talks are confidential.
Investment bank Houlihan Lokey was advising Toronto-based Jamieson, the source said.
Jamieson was not immediately available to comment and Houlihan Lokey declined comment.
The $30 billion vitamins and nutrition supplements market is going through a spate of consolidation as companies seek to capitalize on consumers’ growing appetite for products that boost health and wellness.
Just last month, Britain’s Reckitt Benckiser agreed to buy U.S. vitamin maker Schiff Nutrition for $1.4 billion after beating out Germany’s Bayer, and Germany’s BASF agreed to buy fish oils maker Pronova BioPharma for $845 million.
Reckitt’s offer for Schiff valued the company at 16.5 times EBITDA while BASF’s bid for Pronova was at about 5.7 times EBITDA. Houlihan Lokey also advised Schiff, alongside Rothschild.
In August, U.S. consumer goods maker Church & Dwight Co agreed to buy Avid Health, which makes gummy vitamins, for $650 million. (Reporting by Martinne Geller in New York; Editing by Marguerita Choy)