It’s been confirmed that the proposed buyout of The Health Store by Health Made Easy has now been completed.
It was revealed earlier this year that THS was supporting a proposed buyout by Health Made Easy, which also owns Tree of Life and Higher Nature.
Following its offer to shareholders to support the move, Health Made Easy has now confirmed that the acquisition has taken place following sufficient acceptances to complete the deal.
Health Made Easy, a group of businesses that invest in health and wellbeing products, made the offer to shareholders in June, explaining that the move would allow the group and board of directors to invest further into the business. Health Made Easy said in a statement that the acquisition, now complete, will allow The Health Store to enhance service levels and provide more choice to their customers through access to thousands of additional complementary product lines across ambient, chilled and frozen ranges.
It said that the acquisition will consolidate the group’s buying power, which includes a number of subsidiaries, including Higher Nature and Tree of Life. Health Made Easy also pointed out that, together with The Health Store, it provides the group with a significant position in the sector, with sales of some £90m a year.
Mike Cole, Chairman of Health Made Easy, commented: “We’re pleased that our shareholders have backed the acquisition of The Health Store. We will continue to operate both businesses as separate entities, which will provide benefits of scale across all channels and enable us to improve our offer to our customers, suppliers and consumers alike.”
Tim Ryan, Managing Director of The Health Store, added: “Our business has been at the forefront of sourcing natural and organic products for independent retailers for more than 80 years. Within this time, the landscape of the sector in which we operate has changed considerably. We’re confident that the deal made with Health Made Easy will allow us to drive forward changes and benefits that will ensure we can keep delivering for the needs of our customers.”
Under the terms of the acquisition, all three businesses will continue to operate autonomously at their separate sites.