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Vitamin Shoppe To Be Acquired In $208M Deal

Vitamin Shoppe To Be Acquired In $208M Deal

Liberty Tax will acquire The Vitamin Shoppe (NYSE: VSI) in an all cash transaction deal valued at $208 million.

Vitamin Shoppe shareholders will receive $6.50 per share, which represents a premium of 43% to its closing share price on Aug. 7. Liberty Tax intends to finance the transaction with up to $170 million in debt financing and a combination of available cash and/or through the issuance of common stock of Liberty Tax.

The deal is expected to be completed in the fourth quarter of 2019.

"Following a careful and disciplined assessment, the board of directors has concluded that the acquisition proposal from Liberty Tax maximizes value for our shareholders,” said Sharon Leite, CEO of The Vitamin Shoppe. “The transaction also 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.”

Vitamin Shoppe shares were trading up 40% at $6.36 in Thursday’s pre-market session. The stock has a 52-week high of $13.95 and a 52-week low of $3.32.

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Photo credit: Dwight Burdette, via Wikimedia Commons

Posted-In: M&A News Best of Benzinga


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