Dr. Willmar Schwabe Pharmaceuticals, the German parent company of phytomedicine company Nature's Way Holding Company, reached an agreement last week to purchase all outstanding shares of Green Bay, Wisc.-based Enzymatic Therapy for an undisclosed amount of money.
The companies did not release the terms of the deal and did not say when the deal would be finalized.
"We do believe that the complementary product portfolios and marketing know-how of Enzymatic Therapy and Nature's Way will significantly strengthen our presence in the US market," Dr. Dirk Reischig, chairman and CEO of Scwabe Pharmaceuticals said in a press release.
The companies said, "The combination of these organizations brings together leading industry professionals across every business discipline and creates an unsurpassed portfolio of clinically validated natural products and ingredients."
Nature's Way makes natural supplements and homeopathic medicines including antioxidants, diet and weight loss supplements, energy and endurance boosters, immunity boosters, and liver health and detoxification products.
Enzymatic Therapy manufactures over 250 dietary supplements and natural medicines to the tune of almost $40 million annually, according to estimates from the Dun & Bradstreet Corporation.
Enzymatic Therapy CEO Randy Rose said in a press release, "We are very pleased to align with Nature's Way and Dr. Willmar Schwabe Pharmaceuticals... The highly ethical approach to delivering natural medicines that improve lives is a consistent core value for all three entities and we look forward to advancing the natural health care solutions for the benefit of all.
Dr. Willmar Schwabe Pharmaceuticals formed in Karsruhe, Germany in 1866. The group now comprises six German companies with subsidiary companies around the world. The vertically-integrated company oversees production of its natural products from the ingredients stage to the manufacturing stage, according to a press release.