Liberty Tax Inc. on Thursday announced it will acquire the Secaucus-based Vitamin Shoppe Inc. for approximately $208 million in an all-cash transaction.
Under terms of the deal, Vitamin Shoppe shareholders will receive $6.50 per share, representing a premium of 43 percent to its closing share price on Aug. 7.
The transaction is expected to be completed in the fourth quarter of 2019.
Leite
Liberty Tax intends to finance the transaction with up to approximately $170 million in debt financing and a combination of available cash and/or through the issuance of common stock of Liberty Tax.
“Following a careful and disciplined assessment, the board of directors has concluded that the acquisition proposal from Liberty Tax maximizes value for our shareholders,” Sharon Leite, chief executive officer of The Vitamin Shoppe, stated. “The transaction also delivers long-term benefits to our associates, customers and business partners. It provides an immediate premium to our current shareholders and aligns The Vitamin Shoppe with a partner that shares our strategic vision to unlock the further potential of The Vitamin Shoppe as a leader in health and wellness.”
