- Bayer AG (OTCMKTS: BAYRY) is reportedly going to buy 70% of vitamin company Care/of in a deal valued at $225 million
Bayer AG (OTCMKTS: BAYRY) is reportedly going to buy 70% of vitamin company Care/of in a deal valued at $225 million. And Bayer is going to have an option to buy the rest of the company by 2022, according to Bloomberg’s sources.
“We believe this model and product type has the ability to expand into traditional retail channels as we aim to reach new consumers,” said Bayer spokesman Dan Childs in a statement. “Together we plan to grow the Care/of business across new channels, new categories and new markets to deliver even more personalized nutrition.”
Care/of was originally founded in New York City by Craig Elbert and Akash Shah in 2016. And the company is known for selling vitamin subscriptions along with associated accessories. Since the company was founded, it raised nearly $83 million.
This deal comes on the heels of Bayer buying women’s health company Kandy Therapeutics for $875 million last month.