U.K. Play Marks Another NBTY Move Felt By Ingredient Suppliers Everywhere
This article was originally published in The Tan Sheet
Executive Summary
NBTY increases its influence on competition in the vitamin and dietary supplement ingredient supply market with its acquisition of U.K. natural foods retailer Julian Graves
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NBTY Moves On From U.K. Health Food Retail Misadventure
Less than four years after acquiring U.K. chain Julian Graves as a platform for European growth, NBTY absorbs a $20 mil. charge to get rid of the subsidiary, which had “continuing operating losses.” NBTY plans to refocus resources on Holland & Barrett and its other European supplement retailers.
NBTY Moves On From U.K. Health Food Retail Misadventure
Less than four years after acquiring U.K. chain Julian Graves as a platform for European growth, NBTY absorbs a $20 mil. charge to get rid of the subsidiary, which had “continuing operating losses.” NBTY plans to refocus resources on Holland & Barrett and its other European supplement retailers.
U.K. questions NBTY acquisition
The U.K. trade regulator says NBTY's acquisition of natural food and ingredients retailer Julian Graves potentially could hinder competition in the nuts, seeds and dried fruit market, and referred the deal for review to its Competition Commission. Because NBTY owns Holland & Barrett, the leading U.K. health food products retailer, the Office of Fair Trading said March 20 it did not receive "sufficient evidence" that other retailers currently adequately constrain NBTY's influence on competition in this area. NBTY and Julian Graves also overlap in vitamins, minerals and supplements sales, but OFT ruled out competition concerns because Julian Graves "sells only limited quantities." Ronkonkoma, N.Y.-based NBTY, which is acquiring Julian Graves through its NBTY Europe subsidiary for approximately $25 million, said it expects the commission's decision by Sept. 3 (1"The Tan Sheet" Sept. 22, 2008, p. 14)