Bayer will purchase Care/of, an online vitamin and supplement provider, in efforts to expand its nutrition and wellness portfolio, according to Bloomberg.
Founded in 2016 in New York City, Care/of offers personalized vitamin pack subscriptions as well as wellness and lifestyle accessories.
The German drugmaker will acquire 70 percent of Care/of for $225 million with the option to buy the rest by 2022, an unnamed person familiar with the deal told Bloomberg.
"We believe this model and product type has the ability to expand into traditional retail channels as we aim to reach new consumers," Bayer spokesperson Dan Childs said in a statement. "Together, we plan to grow the Care/of business across new channels, new categories and new markets to deliver even more personalized nutrition."