Upcoming AWS Coverage on Freshpet Post-Earnings Results
LONDON, UK / ACCESSWIRE / May 24, 2017 / Active Wall St. blog coverage looks at the headline from Nutraceutical International Corp. (NASDAQ: NUTR) and HGGC, LLC, a leading middle-market private equity firm, as the companies announced on May 22, 2017, that they have entered into a definitive agreement pursuant to which Nutraceutical will be acquired by an affiliate of HGGC for about $446 million, including debt to be refinanced. Under terms of the agreement, Nutraceutical's stockholders will receive $41.80 in cash, without interest, for each outstanding share of Nutraceutical's common stock, representing a 49% premium to the Company's closing stock price on May 19, 2017, and a 15.6% premium to the Company's all-time high closing stock price. Register with us now for your free membership and blog access at:
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One of Nutraceutical International's competitors within the Food - Major Diversified space, Freshpet, Inc. (NASDAQ: FRPT), posted on May 04, 2017, its financial results for Q1 2017 ending March 31, 2017. AWS will be initiating a research report on Freshpet in the coming days.
Today, AWS is promoting its blog coverage on NUTR; touching on FRPT. Get all of our free blog coverage and more by clicking on the link below:
http://www.activewallst.com/register/
The Announcement
This agreement is viewed as a growth opportunity for Nutraceutical where HGGC's expertise in formulating strategic growth plans for middle-market Companies will act as a great platform for the Company, later. The combination of HGGC strategic insights and deep industry experience and knowledge of the management team will enable the Company to grow and build.
Nutraceutical will undertake a 60-day "go-shop" period, commencing immediately. During the period, the special committee, with the help of financial and legal advisors, will actively solicit, evaluate, and potentially enter into negotiations with parties who offer alternative proposals. There can be no assurance that this process will result in a superior offer or that any transaction will be approved or completed.
The transaction is expected to close in second half of 2017 and is subject to customary closing conditions, including the Company's stockholders' approval and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. There are no financing conditions attached with the transaction.
HGGC
HGGC is a leading middle-market private equity firm with over $4.25 billion in cumulative capital commitments. The Company is based in Palo Alto, California and is distinguished by its Advantaged Investing Strategy that is designed to enable the firm to source and acquire scalable businesses at attractive multiples through partnerships with management teams, founders, and sponsors who reinvest alongside HGGC. The Company has executed over 60 platform investments to date, including add-on acquisitions, recapitalizations, and liquidity events with an approximate transaction value of more than $12 billion.
Nutraceutical Growth Prospects
Nutraceutical is an integrated manufacturer, marketer, distributor, and retailer of branded nutritional supplements and other natural products sold primarily across domestic health and natural food stores. On an international scale, the Company markets and distributes branded nutritional supplements and other natural products to and through health and natural product distributor and retailers.
Nutraceutical is a Company with a diverse portfolio of brands and thousands of satisfied retail customers, and millions of loyal consumers who rely on its products. Nutraceutical has executed a successful roll-up strategy with consistency and dedication over the last 25 years, leading the Company to consistently generate strong financial returns and positive cash flow.
The agreement has been unanimously approved by Nutraceutical's board of directors, acting on the recommendation of a special committee of independent and disinterested directors. The special committee negotiated the terms of the agreement with the assistance of its financial and legal advisors.
Stock Performance
At the closing bell, on Tuesday, May 23, 2017, Nutraceutical International's stock slightly slipped 0.59%, ending the trading session at $41.90. A total volume of 588.86 thousand shares were traded at the end of the day, which was higher than the 3-month average volume of 32.47 thousand shares. The Company's stock price soared 33.87% in the last month, 19.54% in the past three months, and 34.29% in the previous six months. Additionally, in the previous twelve months, shares of the Company have skyrocketed 82.17%. The stock is trading at a PE ratio of 21.00 and has a dividend yield of 1.19%. At Tuesday's closing price, the stock's net capitalization stands at $401.82 million.
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SOURCE: Active Wall Street