Catalent, a drug delivery technology company based in Somerset, has agreed to acquire gummies maker Bettera Holdings for $1 billion, the company said in a news release.
The purchase of Bettera, based in Plano, Texas, continues a string of acquisitions this year by Catalent, including deals to acquire bioproduction company Delphi Genetics and cell therapy manufacturer RheinCell Therapeutics GmbH.
The purchase of Bettera will bolster Catalent’s global softgel and oral dose formulation and manufacturing business, the company said.
“As the leading global innovator of softgel and oral technologies, Catalent has a strong, longstanding presence in the rapidly expanding consumer health and nutraceutical marketplace,” said Dr. Aris Gennadios, president of softgel and oral technologies for Catalent. “This acquisition allows us to significantly accelerate the growth of our consumer health business and offer customers access to the substantial potential in gummies, soft chews and lozenges, which are experiencing double-digit growth.”
The acquisition is expected to close by the end of the year and includes the transfer of Bettera’s 500 employees, its product development, manufacturing and packaging assets, and its production facilities in New Jersey, California, Indiana and Virginia.
Catalent said it plans to finance the all-cash deal with a combination of cash on hand, existing credit facilities and, depending on market conditions, new debt financing.
