January 2, 2013
WASHINGTON U.S. regulators are investigating The Vitamin Shoppe's $50 million acquisition of Super Supplements, Inc., delaying by two months the expected date the merger will close.
"The FTC staff conducting the investigation has stated in a letter to the parties that the inquiry will extend beyond December 31, 2012, and has not yet provided any indication as to the likely outcome or ultimate timing of its inquiry," Vitamin Shoppe disclosed in a press release.
Vitamin Shoppe, the North Bergen, N.J.-based specialty retailer and direct marketer of nutritional products, and Super Supplements have agreed to extend the outside date for completion of the deal from December 31, 2012 to March 31, 2013, although Vitamin Shoppe cautioned "[t]here can be no assurance as to whether and when the transaction will be consummated in light of these developments."
Vitamin Shoppe said the companies are cooperating with the FTC in its investigation.
Announced last month, the pending merger between Vitamin Shoppe and Super Supplements will combine companies with headquarters on opposite sides of the country. The deal will expand Vitamin Shoppe's presence in the Pacific Northwest where Super Supplements a Seattle-based specialty retailer of vitamins, minerals and supplements operates 31 stores in Idaho, Oregon and Washington.
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