Swiss firm buys diet supplement supplier InterHealth Nutraceuticals

Switzerland-based phamaceutical ingredients supplier Lonza said Monday that it had reached a deal to acquire Benicia, Calif.-based InterHealth Nutraceuticals.

The deal is worth up to $300 million in cash, with a partial payment upfront and future payments tied to performance.

InterHealth, which is owned by Kainos Capital, manufactures more than 15 ingredients targeted at areas such as weight loss, sports nutrition, diabetic health and pet care.

"Lonza will leverage the successful product portfolio of InterHealth on a global level and in turn will be able to benefit from InterHealth’s proven management and branding capabilities to promote Lonza’s existing product portfolio," Lonza CEO Richard Ridinger said in a statement.

Lonza said it expects to finalize the transaction in September. It said InterHealth was profitable for the 12-month period ended in July.

Follow Paste BN reporter Nathan Bomey on Twitter @NathanBomey.