Aurobindo Pharma has announced reaching a definitive agreement to sell Natrol LLC, one of its American units to an affiliate of New Mountain Capital to combine with Jarrow Formulas.
The all-cash transaction is valued at $550 million. Subject to customary closing conditions and regulatory approvals, the transaction is expected to close by January 2021. Natrol’s annual sales for the 12 months ended March 31, 2020, was approximately $157 million.
The equity shares of Aurobindo Pharma are up nearly 4 percent in early trade on October 26, 2020. The company has announced reaching a definitive agreement to sell Natrol LLC, a wholly-owned subsidiary of Aurobindo Pharma USA, Inc., to an affiliate of New Mountain Capital to combine with Jarrow Formulas.
Over the year 2019, the stock has generated a return of 64.4 percent, its profits have risen by 13.9 percent; The price/earnings to growth ratio of the company is 1.1.
Institutional holdings of the company have increased by 1.49 percent over the previous quarter to 36.68 percent.
