Catalent (NYSE:CTLT) has been on something of a spending spree during the pandemic.
Looking to bolster its nutraceutical business, the company announced it would acquire Plano, Texas–based Bettera Holdings LLC for $1 billion.
Bettera specializes in gummy, soft chew and lozenge products within nutritional supplements.
Also this year, Catalent has acquired RheinCell Therapeutics, which develops induced pluripotent stem cells (iPSC) technologies and the gene therapy CDMO Delphi Genetics. It has also acquired an additional facility at its Gosselies, Belgium Campus for plasmid DNA manufacturing. In addition, Catalent entered into an agreement with Acorda Therapeutics (NSDQ:ACOR) to purchase a dry-powder inhaler (DPI) capsule manufacturing and packaging facility.
The latest deal will bolster Catalent’s capacity for producing gummy-based vitamins, minerals and supplements. Bettera has four production facilities in the U.S. in California, Indiana, New Jersey and Virginia. It has approximately 500 employees.
“This acquisition is a key strategic move for Catalent’s Consumer Health business, where our leadership in manufacturing technologies and formulation can offer customers more product development opportunities and add manufacturing capacity in this dynamic and fast-growing segment,” said Aris Gennadios, Catalent’s president, softgel and oral technologies, in a statement.
Catalent expects the merger to finalize by the end of the year.