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Bayer to Buy Vitamin Company Care/Of for $225 Million

  • German drugmaker will buy 70% stake in New York business
  • Plans to grow Care/of across new categories and markets
    
Photographer: Alex Kraus/Bloomberg
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Bayer AG agreed to buy online vitamin and health supplement company Care/of as the German drugmaker aims to expand its nutrition business.

Bayer is acquiring 70% of the four-year-old business in a transaction that values the company at $225 million, according to a person familiar with the matter. Bayer will have an option to buy the rest by 2022, said the person, who asked to not be identified because the terms of the transaction are private.