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Bayer completes Care/of investment

© Chainarong Prasertthai / Getty Images
© Chainarong Prasertthai / Getty Images

Related tags Investment personalized nutrition

Bayer has announced the completion of its investment in Care/of, giving it a majority ownership in the personalized nutrition player. The deal deepens Bayer’s capabilities in the personalized healthcare and nutritionals space.

Care/of joins Bayer’s Consumer Health, North America portfolio. The deal was originally announced in September​.

“As a global leader in health and nutrition, Bayer’s acquisition of Care/of bolsters our digital capabilities in the key market of personalized supplements,”​ said Patrick Lockwood-Taylor, President, Bayer U.S & Consumer Health NA.

“We’re excited to partner with the talented Care/of team to bring their expertise in wellness to more people during a time when self-care is top-of-mind. Care/of exists to help people feel better, and this acquisition executes on Bayer’s commitment to making health solutions accessible to all,” ​he said.

Craig Elberg, CEO and co-founder, Care/of, added: “We built Care/of to take the guesswork out of feeling better, and to make healthy living more fun. By joining forces with Bayer, we are able to build on the power of personalized wellness solutions, and expand our ability to connect directly with new and existing customers

“We’re thrilled to have found a partner in Bayer who is aligned with our long-term vision, and will help elevate our unwavering commitment to science-backed guidance, quality ingredients, and sustainable practices.”

Lockwood-Taylor will serve as chair of the new Board of Directors. Elbert will remain as CEO overseeing day-to-day operations. Houlihan Lokey served as the advisor to Care/of on the deal.

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