24 September 2019 - Deborah Wilkes
Vitamin Shoppe is no longer considering a second takeover proposal in addition to the deal with Liberty Tax announced in August 2019.
The US-based specialty retailer said it had decided to "cease negotiations" with the bidder as it had failed to obtain committed financing.
The company said its board was still recommending the Liberty Tax offer.
On 9 September 2019, Vitamin Shoppe revealed that it had received a second offer during a "go-shop" period. It did not name the bidder (click here to read the News story).
Vitamin Shoppe announced in August 2019 that it was set to be acquired by Liberty Tax – the parent company of Liberty Tax Service and Buddy's Home Furnishings – in an all-cash transaction worth around USD208 million.
Recent financial results
The retailer reported sales down by 7.6% to USD271 million in the three months ended 29 June 2019. The company recorded a net loss from continuing operations of USD3.57 million, compared with a net income from continuing operations of USD5.28 million in the same period a year earlier.
Vitamin Shoppe operates more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners in the US and Puerto Rico, as well as the www.vitaminshoppe.com website. It also has a very small international business.
It sells a broad range of vitamins, minerals and supplements (VMS), herbs, sports-nutrition ranges, homeopathic remedies, green living products and beauty aids. In addition to around 700 national brand products, it offers products exclusively under The Vitamin Shoppe, BodyTech, Next Step, plnt, ProBioCare and True Athlete brands.