New Jersey-based Catalent Inc. (NYSE: CTLT), which has a major presence in Bloomington, is set to acquire a gummy and soft chew vitamin and supplement maker headquartered in Texas. The deal for Bettera Holdings LLC, which operates a facility in Dearborn County, is valued at $1 billion.
Bettera Holdings is the parent of Bettera Brands, which makes gummy vitamins, soft chews and lozenges. In addition to its Greendale, Indiana facility, Bettera also has manufacturing operations in California, Virginia and New Jersey.
“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,” Dr. Aris Gennadios, president of softgel and oral technologies for Catalent, said in a news release. “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 acquisition is expected to close by the end of the year. Catalent says the deal includes “substantially all” of Bettera’s approximately 500 employees nationwide.