Catalent’s $1 Billion Acquisition of Bettera

Fried Frank acted as counsel to Catalent in the transaction.

Catalent, Inc. executed its US$1 billion agreement to acquire Bettera Holdings, LLC (Bettera), a major manufacturer in the high-growth gummy, soft chew, and lozenge segments of the nutritional supplements market, from Highlander Partners, LP.

The acquisition will enable Catalent to expand its current consumer health technology platform with a wider range of technologies and ready-to-market product libraries, as well as a variety of packaging options to meet customers’ branding needs. The transaction is expected to close before the end of 2021.

The acquisition is expected to close before the end of 2021, and includes the transfer of substantially all of the approximately 500 employees, and product development, manufacturing, and packaging assets of Bettera Holdings, headquartered in Plano, Texas, including its production facilities in California, Indiana, New Jersey, and Virginia.

The acquisition is subject to customary terms and closing conditions. Catalent will pay the purchase price for this all-cash acquisition at closing using a combination of cash on hand, existing credit facilities and, depending on market conditions, new debt financing. 

Catalent Inc. [NYSE: CTLT], an S&P 500® company, is the leading global provider of development sciences and manufacturing platforms for medicines, including biotherapeutics; cell and gene therapies; and consumer health products. 

Centerview Partners LLC served as financial advisor to Catalent.

The Fried Frank team was led by corporate partner Steven Epstein (Picture) and included executive compensation & ERISA partner Amy L. Blackman; intellectual property and technology partner Amir R. Ghavi; tax partner Michael J. Alter; corporate special counsel Adam B. Cohen and Howard A. Fine; corporate real estate special counsel Melissa A. Meyrowitz; environmental special counsel Donna Mussio; real estate special counsel Joelle Halperin; tax special counsel Ryan L. Conley; corporate associates Aleksandr Galinskiy, Asad Hussain, and Miyoshie C. Lamothe-Aime; executive compensation & ERISA associate Samantha Steinfeld Rozell; intellectual property and technology associates Justin P. Charles and Kimberly Mihovics; litigation associates Patrick J. Albergo and Agatha I. Erickson; tax associate Karen Li; and corporate law clerks Trent Pacer and Cadine M. Bramwell.

Involved fees earner: Patrick Albergo – Fried Frank Harris Shriver & Jacobson; Michael Alter – Fried Frank Harris Shriver & Jacobson; Amy Blackman – Fried Frank Harris Shriver & Jacobson; Justin Charles – Fried Frank Harris Shriver & Jacobson; Adam Cohen – Fried Frank Harris Shriver & Jacobson; Ryan Conley – Fried Frank Harris Shriver & Jacobson; Steven Epstein – Fried Frank Harris Shriver & Jacobson; Agatha Erickson – Fried Frank Harris Shriver & Jacobson; Howard A. Fine – Fried Frank Harris Shriver & Jacobson; Aleksandr Galinskiy – Fried Frank Harris Shriver & Jacobson; Amir Ghavi – Fried Frank Harris Shriver & Jacobson; Joelle Halperin – Fried Frank Harris Shriver & Jacobson; Asad Hussain – Fried Frank Harris Shriver & Jacobson; Miyoshie Lamothe-Aime – Fried Frank Harris Shriver & Jacobson; Karen Li – Fried Frank Harris Shriver & Jacobson; Melissa Meyrowitz – Fried Frank Harris Shriver & Jacobson; Kimberly Mihovics – Fried Frank Harris Shriver & Jacobson; Donna Mussio – Fried Frank Harris Shriver & Jacobson; Samantha Steinfeld Rozell – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Catalent, Inc.;

Martina Bellini

Author: Martina Bellini