Is Jamieson Vitamins a Canadian CompanyAdmin
For nearly a century, the Toronto-based manufacturer of vitamins, minerals and other supplements has been capitalizing on consumers` appetite for healthy living – and counting on its growth. The company already exports to more than 40 countries, with some of its oldest markets being Trinidad, Jordan and Hong Kong. It`s no secret that Canadians consider Jamieson to be the most trusted vitamin, mineral and supplement company in the industry. One of the main reasons for this praise is our conscientious focus on pure, high-quality ingredients, which is why we have our 360 Pure promise to our customers and consumers. To further reinforce this commitment to quality and purity, Jamieson is now TRU-ID! Since going public in 2017, Jamieson has been a well-run company. Revenue increased by more than 50% to $451 million in 2021, while operating margins increased from 14.9% in 2017 to nearly 18% in 2021. Diluted earnings per share increased from $0.67 in 2018 to $1.25 in 2021 (Figure 2). In addition, Jamieson`s business is very “trendy” and defensive. If we look at the company`s quarterly results, we can see that Jamieson has performed particularly well during the COVID-19 pandemic, as consumers have purchased vitamins and supplements to boost their immune systems (Figure 9). As the world continues to battle COVID-19 variants and emerging viral outbreaks such as monkeypox, I expect VMS penetration to remain high. Jamieson has always been voted Canada`s most trusted vitamin brand, and for good reason: in a fast-growing market, we differentiate ourselves through our commitment to providing consumers with the purest, safest and most effective natural health solutions. The main Jamieson brand was founded in 1922 as Jamieson Laboratories and focused on vitamins. It was sold to New York industrialist Henry Margolis in 1951.
The company was passed on to his son, Eric Margolis, who led the company until it was sold to private equity firm CCMP in 2014 for $300 million. That`s because Jamieson was innovative, agile and always looking for growth, he said. When Neufeld was hired in 1993, the company had 95 employees and annual sales of $20 million. The company currently employs 600 people in Canada and has sales of nearly $250 million. “It`s a big company, Jamieson, it really is,” Loton said. “They have a great product. They are great with their staff. “It took me a long time because I really wanted to understand and sort out potential buyers, sort out all the financial details and get assurances — as much as possible — that the company`s policy, culture and employment would continue,” he said. “There`s a global megatrend in health and wellness that affects everyone, no matter what country you`re in,” President and CEO Mark Hornick said in an interview before the company went public.
M. Margolis said CCMP has the capital and management expertise to take the company beyond Canada`s borders, something he couldn`t do, but would like to see. Platform Acquisition Accelerates Growth in U.S. Market with Leading Premium Brand July 19, 2022 5:33 PM Eastern Daylight Time TORONTO–(BUSINESS WIRE)–Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX: JWEL) announced today that it has completed the previously announced acquisition of Nutrawise Health & Beauty Corporation (“Nutrawise”), a leading innovator, manufacturer and distributor of premium dietary supplements under the YouTheory brand in the U.S. and other international markets for approximately $210 million ($265 million1). The acquisition provides the Company with a platform to expand into the U.S. VMS market by complementing its offering of premium brands and products, which are highly complementary to the Company`s brand portfolio. The transaction is immediately positive with pro forma revenues of $155 million to $159 million2 and adjusted EBITDA3 of $28 million to $29 million in 2022. In connection with the completion of the acquisition of Nutrawise, the Company`s subsidiaries, Jamieson Laboratories Ltd. and Jamieson Health Products USA Ltd., have successfully amended and adjusted their existing senior credit facilities under a second amended and amended credit agreement (the “Credit Agreement”) with a syndicate of lenders. The credit agreement adds the company`s newly acquired subsidiary, NutraWise Health & Beauty LLC, as a borrower, extending the maturity date of the credit facilities until June 19.
July 2027 and offers up to $500 million in revolving credit facility, as well as an expanded accordion function of up to $250 million, providing future growth opportunities.4 “The completion of this transaction significantly enhances our global platform. opens exciting new growth opportunities for Jamieson Wellness,” said Mike Pilato, President and CEO of Jamieson Wellness. “With our new team members, brand and state-of-the-art manufacturing facility, we are well positioned to accelerate our expansion into the world`s largest vitamin, mineral and dietary supplement market. We look forward to continuing to work closely with co-founders Darren and Patty Rude and the Nutrawise team to integrate youtheory into Jamieson`s wellness portfolio and leverage our combined strengths to improve the health and well-being of consumers around the world.” Further details on the transaction can be found in the investor presentation on the Company`s website here. “We are thrilled to officially join Jamieson Wellness today,” said Darren Rude, co-founder of Nutrawise. “We look forward to working together as part of the Jamieson team to further develop the youtheory brand in the U.S. and internationally.” About Jamieson Wellness Inc. Jamieson Wellness is dedicated to improving global health and wellness through its portfolio of innovative natural health brands. Founded in 1922, Jamieson is the company`s heritage brand and the #1 consumer health brand in Canada. Jamieson Wellness also offers a variety of VMS products under the youtheory, Progressive, Smart Solutions, Iron Vegan and Precision brands. The company participates in the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information, see www.jamiesonwellness.com.
Jamieson Wellness is headquartered at 1 Adelaide Street East Suite 2200, Toronto, Ontario, Canada. Forward-Looking Statements Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws, including, but not limited to, those identified by the words “expects”, “anticipates”, “intends”, “may”, “estimates” and variations of such words and similar expressions. Some of the specific forward-looking statements contained in this press release include, but are not limited to, statements regarding the anticipated benefits of the transaction to the Company and its shareholders and the additional revenues and adjusted EBITDA that the Company expects to receive as a result of the transaction. There can be no assurance that the expected benefits of the transaction will result. Forward-looking information is based on a number of important expectations and assumptions of the Company, including, but not limited to: Nutrawise`s expected future revenues and earnings; The timing of the integration of acquisition and exchange rates. Although the forward-looking information contained in this press release is based on reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such information. Forward-looking information involves significant risks and uncertainties and should not be construed as guarantees of future performance or results, as actual results and events may differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the possibility that the anticipated benefits of the transaction may not be realized on time or at all; currency and interest rate fluctuations; and the inability to achieve or maintain revenue and profit growth. Additional information on the risks and uncertainties associated with the Company and the assumptions associated with certain forward-looking statements is set out under the heading “Risk Factors” in the Company`s Annual Report dated March 29, 2022 and under the heading “Summary of Factors Affecting Our Performance”, “Forward-Looking Information”, “Risk Factors” and “Outlook” in the Management`s Discussion and Analysis filed on May 5, 2022. both are available on SEDAR under www.sedar.com.
The Company cautions that the list of risk factors and uncertainties is not exhaustive and that other factors could also adversely affect the Company`s results. Readers are cautioned to carefully consider the risks, uncertainties and assumptions associated with these statements when evaluating forward-looking information and not to place undue reliance on such information. This forward-looking information is based on the Company`s reasonable beliefs and beliefs based on currently available information and the statements speak as of the date of this press release. The Company undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Non-IFRS and other financial measures This press release discusses certain financial measures, including non-IFRS measures, that are historical or forward-looking.