Biz BriefsA major maker and retailer of nutritional and health products will spend about $115 million to buy Solgar Vitamin and Herb, a division of Madison-based Wyeth Consumer Healthcare. Purchaser NBTY, which is based in Bohemia, New York, says the deal will close by August and the final purchase price will be adjusted to reflect Solgar?s net assets.
Solgar, established in 1947, has some 300 employees at its manufacturing plant and other facilities in Leonia and Lyndhurst. Solgar was acquired in 1998 by Wyeth, which was then known as American Home Products. Wyeth spokesman Doug Petkus says the sale of Solgar ?allows us to concentrate on our core business products like Centrum and Advil. Solgar is primarily sold by speciality stores, while Wyeth?s other products are available in pharmacies, mass distributors and other outlets.?
NBTY President Harvey Kamil says he doesn?t foresee any layoffs of Solgar employees in New Jersey and at the company?s overseas locations. ?We?re actually planning to expand operations,? Kamil says.