Vitamin Shoppe Receives Another Acquisition Proposal

SECAUCUS, NJ—During the “go-shop” period of its pending merger deal with Liberty Tax Inc. and Valor Acquisition, Vitamin Shoppe, Inc. reports that the retailer has received another acquisition proposal.

While the Board of Directors of the company or the Special Committee of the Board of Directors of the company stressed they have not changed its recommendation in favor of the company’s pending merger with Liberty Tax, Vitamin Shoppe has determined that the unnamed third-party bidder has qualified as an “excluded party” (as defined in the merger agreement) and that the acquisition proposal is reasonably likely to lead to a “superior proposal” (as defined in the merger agreement). The company states that it intends to engage in negotiations with the third party bidder regarding its acquisition proposal.

Vitamin Shoppe’s Board and Special Committee stated that it “expressly reaffirms its recommendation in favor of the pending merger with Liberty Tax.”

The merger deal announced in August with Liberty Tax, soon to be renamed the Franchise Group, and Valor Acquisition was valued at $208 million.

During the “go-shop” period, Vitamin Shoppe engaged in a broad solicitation of strategic and financial parties to determine whether they may have an interest in making a proposal to acquire the company. No parties other than the third-party bidder submitted an acquisition proposal to acquire the company during the “go-shop” period, which expired at 12:01 a.m. EST on Sept. 6, 2019.

Based in Secaucus, Vitamin Shoppe offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and natural beauty aids.