NBTY’s sale of Vitamin World was completed on Feb. 16. VWRE Holdings Inc., an affiliate of Centre Lane Partners, bought the division of NBTY for approximately $25.6 million in cash and promissory note, according to a Securities and Exchange Commission filing.
An additional $5.5 million in cash is due 45 days after the closing for payment of certain preclosing inventory.
Additional provisions of the deal include:
- Rights for NBTY to purchase common stock equal to 10 percent of the fully diluted equity of VWRE Holdings within 10 years.
- A transition services agreement.
- A supply agreement for NBTY to sell certain vitamin and nutritional supplement products to Vitamin World for up to two years.