FTC drops investigation of a Vitamin Shoppe acquisition
February 5, 2013 01:16 PM
The U.S. Federal Trade Commission has closed its investigation of VitaminShoppe.com’s acquisition of nutritional products retailer Super Supplements, and the transaction will proceed as planned, the merchant announced yesterday.
In December, VitaminShoppe.com, No. 201 in the Internet Retailer Top 500 Guide, revealed its plans to buy its competitor for $50 million. Shortly thereafter the e-retailer filed a document with the U.S. Securities and Exchange Commission alerting investors that the FTC was investigating the deal and that the closing date had been pushed from Dec. 31, 2012, to March 1, 2013.
Since the inquiry has now been closed, the merchant is targeting a Feb. 15 closing.
VitaminShoppe says it cooperated with the investigation but did not disclose details or what the FTC was looking into.
The merchant said in December it would buy Super Supplements, a retailer of vitamins, minerals and supplement, with available cash. The deal will expand Vitamin Shoppe’s presence in the Pacific Northwest, where it operates 17 stores. Super Supplements operates an e-commerce site at SuperSup.com, as well as 31 stores in Washington, Oregon and Idaho.