COLUMBIA, Md. (AP) -- Martek Biosciences, which sells infant formula and dietary supplements, said Thursday that it will buy Amerifit Brands Inc. for $200 million in an effort to push its nutritional products to market quicker.
Amerifit Brands Inc. is a health and wellness company that makes Culturelle, a probiotic supplement, and Estroven, a nutritional supplement used to treat symptoms of menopause.
Amerifit is being sold by equity firm Charterhouse Group Inc. in an all-cash deal. Martek will pay $120 million from its cash reserves and use a new credit facility to fund the rest.
The acquisition, which should close during Martek's second quarter, is expected to add to the company's earnings in fiscal 2010.
Shares of Martek Biosciences Corp. rose 11 cents to $19.11 in after-hours trading Wednesday.
