Schiff Nutrition up 5.5% After Acquiring Airborne

Schiff Nutrition International

is trading higher on the session after the company announced that it will acquire Airborne for $150 million in cash. Airborne develops and sells innovative dietary supplements throughout the United States and Canada. Tarang Amin, president and chief executive officer stated: “Schiff is focused on building premium brands and leading innovation. We are excited about the Airborne acquisition, which fits well with our strategy and establishes Schiff as a leader in the immune support segment. Airborne is a strong brand and will make an excellent addition to Schiff's portfolio, and we plan to leverage our science, innovation, marketing and sales capabilities to further its growth.” Schiff Nutrition is currently trading at $12.97, a gain of $0.68 or 5.53%.