Aurobindo to buy US nutritional supplements maker for $133 million

Aurobindo Pharma's US subsidiary has emerged as the highest bidder for the acquisition of US-based nutritional supplement maker, Natrol Inc, and its other affiliate entities.

Under the auction process, Aurobindo USA emerged as the highest bidder, with a bid of $132.5 million (approximately Rs 808 crore).

Natrol, which manufactures and sells nutritional supplements in the US and other international markets, had filed a bankruptcy petition with the US Bankruptcy Court in Wilmington, Delaware district in the US, in June this year.

Aurobindo's bid is to be approved by the Wilmington court.

"Aurobindo USA believes that Natrol is an excellent strategic fit and provides the right platform, creating a fully-integrated OTC (over-the-counter) platform in the US and in other international markets," Aurobindo said in a filing to the BSE on Wednesday.

Barkley acted as the sole financial advisor and Sullivan & Cromwell LLP acted as the legal counsel to Aurobindo USA. Aurobindo Pharma's scrip is currently trading at Rs 1,065.70 on the BSE, up 3.66%, over the previous close of Rs 1028.10.