Jamieson Wellness Inc., the parent company of brands including Progressive, Smart Solutions, Iron Vegan, and Precision, has agreed to acquire Nutrawise Health & Wellness Beauty Corporation, owner of the supplement brand Youtheory.
 
The purchase was for $265 million on closing, plus potential additional consideration contingent on achieving pre-determined growth targets post-closing. Management anticipates the transaction will close during the third quarter of 2022, subject to regulatory approvals and customary closing conditions.
 
The acquisition comes as part of a strategy to expand into the U.S. dietary supplements market with a premium brand that complements Jamieson Brands’ portfolio.
 
“This transaction is a major strategic milestone for Jamieson, accelerating our expansion in the world’s largest vitamin, mineral and supplement market,” said Mike Pilato, president and CEO of Jamieson Wellness. “Youtheory’s co-founders Darren and Patty Rude have built a remarkable company and brand that is highly complementary to our existing portfolio and perfectly aligned with our commitment to providing consumers with high-quality products they can trust. The transaction is immediately accretive to Jamieson, and we see significant opportunities for future growth synergies as we leverage our broad product portfolio, best-in-class operational capabilities and global footprint to accelerate Youtheory’s expansion across multiple categories and channels in the United States and around the world.”
 
“Patty and I founded Nutrawise over ten years ago with the mission to build a business brand on integrity, authenticity, and quality,” said Darren Rude, co-founder of Nutrawise. “Jamieson Wellness shares a similar mission and values, and we are confident that the combination of Nutrawise, the Youtheory brand, and Jamieson’s expertise will further accelerate our growth and continue to support the health and wellness needs of our consumers.”