Highlander Partners Announces the Signing of a Definitive Agreement to Sell Bettera Brands to Catalent
Highlander Partners announced that it has entered into a definitive agreement under which Catalent, Inc. will acquire Highlander’s portfolio company, Bettera Holdings, LLC, the parent company of Bettera Brands, 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.
Recommended AI News: Mavenir Demonstrates World’s First 2G Containerized Architecture
“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.”
Recommended AI News: InMobi and HUMAN Partner to Keep Mobile In-App Advertising Secure and Human
“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.
Recommended AI News: Neustar and Dynata Partner to Power People-Based Marketing Free of the Risks of Data Deprecation
Comments are closed.