Tarrytown-based Bayer HealthCare L.L.C. announced on Tuesday that it has acquired Schiff Nutrition International for $1.2 billion.
Bayer said it expects the deal, made for $34 a share, to close by year’s end. Schiff, based out of Salt Lake City, is known for the  supplements MegaRed, Move Free and Airborne.
“This transaction represents an excellent strategic fit for our health care business,” said Dr. Marijn Dekkers, CEO of parent company Bayer AG, in a press release. “The Schiff business significantly enhances our presence and position in the United States, which accounts for more over-the-counter and nutritional products sales than any other country in the world.”
Schiff employs 400 people between its headquarters in Salt Lake City and an office in Emeryville. Dr. Jörg Reinhardt, CEO of Bayer HealthCare, said they will use their expertise to further develop Schiff”™s brand name. “We will also look to leverage Schiff’s new technology platforms with innovation potential for other Bayer-owned brands and markets globally,” Reinhardt said in a press release.
