Jamieson Wellness Inc., the Canadian vitamins and supplements maker, is working with Bank of Montreal and Canaccord Genuity Group Inc. to explore a sale, according to people familiar with the matter. The Toronto-based company has begun reaching out to prospective bidders, including private equity firms and corporate suitors, the people said, asking not to be identified discussing confidential information.
Company Confirms Process
Jamieson confirmed it has started a process with its bankers by issuing a statement late Wednesday following a Bloomberg News report. The company said it has received an unsolicited proposal, and there is no assurance any talks will result in a deal. “If it does not, the Board of Directors remains committed to, and confident in, its current strategic plan,” the company stated.
Jamieson rose 0.3 per cent to $36.39 in Toronto trading Wednesday, giving the company a market value of about $1.5 billion. Representatives for BMO and Canaccord declined to comment.
Expansion Beyond Core Canadian Business
Jamieson sells vitamins, minerals and supplements under its namesake brand as well as Youtheory, Progressive and Smart Solutions. The company reported first-quarter revenue growth of more than 16 per cent year over year. In recent years, Jamieson has expanded beyond its core Canadian business through acquisitions and international growth initiatives, including a push into China and the 2022 acquisition of United States supplement brand Youtheory.
The exploration of a sale comes as the company seeks to capitalize on its growth trajectory and market position. The involvement of BMO and Canaccord Genuity signals a structured process to evaluate potential offers.
