Jamieson Wellness Inc. Completes Acquisition of Nutrawise Well being & Magnificence Company, Proprietor of youtheory Model

TORONTO–(BUSINESS WIRE)–Jamieson Wellness Inc. (“Jamieson Wellness” or the “Firm”) (TSX: JWEL) at present introduced it has accomplished the beforehand introduced acquisition of Nutrawise Well being & Magnificence Company (“Nutrawise”), a number one innovator, producer and marketer of premium dietary supplements below the youtheory model in america and different worldwide markets, for roughly US$210 million ($265 million1), plus potential extra consideration contingent on reaching pre-determined development targets post-closing.

The acquisition supplies the Firm with a platform for enlargement within the U.S. VMS market via the addition of its premium model and product providing, extremely complementary to the Firm’s branded portfolio. The transaction is instantly accretive with 2022 professional forma revenues of $155 million to $159 million2 and Adjusted EBITDA3 of $28 million to $29 million.

In reference to the closing of the Nutrawise acquisition, the Firm’s subsidiaries, Jamieson Laboratories Ltd. and Jamieson Well being Merchandise USA Ltd., efficiently amended and restated their present senior credit score amenities pursuant to a second amended and restated credit score settlement (the “Credit score Settlement”) with a syndicate of lenders. The Credit score Settlement provides the Firm’s newly acquired subsidiary, NutraWise Well being & Magnificence LLC, as a borrower thereunder, extends the maturity date of the credit score amenities to July 19, 2027 and supplies availability of as much as $500 million below revolving credit score amenities, plus an expanded accordion function of as much as $250 million, offering for future development alternatives.4

“The closing of this transaction considerably enhances our international platform, opening thrilling new development alternatives for Jamieson Wellness,” mentioned Mike Pilato, President and CEO of Jamieson Wellness. “With our new crew members, model and state-of-the-art manufacturing facility, we’re nicely positioned to speed up our enlargement within the largest vitamin, mineral and complement market on the planet. We stay up for persevering with to work intently with co-founders Darren and Patty Impolite and the Nutrawise crew to combine youtheory into the Jamieson Wellness portfolio, leveraging our mixed strengths to enhance the well being and wellness of shoppers around the globe.”

Extra particulars on the transaction might be discovered within the investor presentation on the Firm’s web site here.

“We’re thrilled to formally be part of the Jamieson Wellness group at present,” mentioned Darren Impolite, co-founder of Nutrawise. “We stay up for working as a part of the Jamieson crew to proceed to develop the youtheory model in america and internationally.”

About Jamieson Wellness Inc.

Jamieson Wellness is devoted to enhancing the world’s well being and wellness with its portfolio of modern pure well being manufacturers. Established in 1922, Jamieson is the Firm’s heritage model and Canada’s #1 shopper well being model. Jamieson Wellness additionally gives quite a lot of VMS merchandise below its youtheory, Progressive, Sensible Options, Iron Vegan and Precision manufacturers. The Firm is a participant of the United Nations World Compact and adheres to its principles-based method to accountable enterprise. For extra info please go to www.jamiesonwellness.com.

Jamieson Wellness’ head workplace is positioned at 1 Adelaide Avenue East Suite 2200, Toronto, Ontario, Canada.

Ahead-Wanting Data

Sure statements included on this press launch represent forward-looking info inside the that means of relevant securities legal guidelines, together with, however not restricted to, these recognized by the expressions “count on”, “anticipate”, “intend”, “could”, “will”, “estimate” and variations of such phrases and comparable expressions. Among the particular forward-looking statements on this press launch embody, however aren’t restricted to, statements with respect to the anticipated advantages of the transaction to the Firm and its shareholders and the extra income and Adjusted EBITDA anticipated to accrue to the Firm because of the transaction. There might be no assurance that the anticipated advantages of the transaction will end result.

Ahead-looking info is predicated on quite a lot of key expectations and assumptions made by the Firm together with, with out limitation: the anticipated future revenues and earnings of the Nutrawise enterprise will end result; the timeline to combine the acquisition and change charges. Though the forward-looking info contained on this press launch is predicated on what the Firm’s administration believes to be affordable assumptions, the Firm can not guarantee buyers that precise outcomes can be according to such info.

Ahead-looking info entails vital dangers and uncertainties and shouldn’t be learn as a assure of future efficiency or outcomes as precise outcomes and occasions could differ materially from these expressed or implied in such forward-looking info. These dangers and uncertainties embody, amongst different issues: the chance that the anticipated advantages of the transaction won’t be realized when anticipated or in any respect; forex and rate of interest fluctuations; and the lack to attain or maintain income and earnings development. Extra details about dangers and uncertainties associated to the Firm and the assumptions related to sure forward-looking info is mentioned below “Threat Components” within the Firm’s Annual Data Type dated March 29, 2022 and below “Abstract of Components Affecting Our Efficiency”, “Ahead-Wanting Data”, “Threat Components” and “Outlook” within the MD&A filed Could 5, 2022, each of which can be found on SEDAR at www.sedar.com. The Firm cautions that the listing of threat elements and uncertainties is just not exhaustive and different elements may additionally adversely have an effect on the Firm’s outcomes. Readers are urged to think about the dangers, uncertainties and assumptions related to these statements fastidiously in evaluating the forward-looking info and are cautioned to not place undue reliance on such info.

This forward-looking info is predicated on the Firm’s affordable assumptions and beliefs in mild of the knowledge presently obtainable to it and the statements are made as of the date of this press launch. The Firm doesn’t undertake any obligation to replace such forward-looking info, whether or not because of new info, future occasions or in any other case, besides as expressly required by relevant legislation.

Non-IFRS and Different Monetary Measures

This press launch makes reference to sure monetary measures, together with non-IFRS measures which are historic or which are forward-looking. Administration makes use of these monetary measures for functions of comparability to prior intervals, growth of future projections and earnings development prospects, to measure the profitability of ongoing operations, in analyzing our enterprise efficiency and developments and in evaluating the transaction and the financing thereof. These measures aren’t acknowledged measures below IFRS, wouldn’t have a standardized that means prescribed by IFRS and are subsequently unlikely to be similar to comparable measures offered by different firms. The Firm makes use of on this press launch the next non-IFRS monetary measure: “Adjusted EBITDA”, probably the most immediately comparable monetary measure that’s disclosed in its monetary statements being web earnings. See the “How we Assess the Efficiency of our Enterprise” part of the Firm’s MD&A filed Could 5, 2022 for a proof of the composition of such measure and see “Chosen Consolidated Monetary Data” of the Firm’s MD&A filed February 24, 2022 for a quantitative reconciliation of such measure to its most immediately comparable monetary measure disclosed within the consolidated monetary statements of the Firm and accompanying notes for such interval to which the measure relates, which disclosures are included by reference herein.

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1 All figures in $CAD thousands and thousands except in any other case indicated.

2 Professional forma figures for 2022 give impact to the Nutrawise acquisition as if it had occurred on January 1, 2022.

3 This can be a non-IFRS monetary measure. See the “Non-IFRS and Different Monetary Measures” part of this press launch for extra info on this non-IFRS monetary measure. Adjusted EBITDA of the Firm for the 12 months ended December 31, 2021 was C$100.1 million.

4 The syndicate is comprised of 8 banks. Financial institution of Montreal acted as Administrative Agent. BMO Capital Markets acted as Co-Lead Arranger and Joint-Bookrunner with Nationwide Financial institution of Canada, RBC Capital Markets and The Financial institution of Nova Scotia.

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