Vitamin Shoppe (VSI) to be acquired by Liberty Tax for $6.50 a share

   

• The deal is expected to be completed in the fourth quarter of 2019. Liberty Tax is the parent of Liberty Tax Service and Buddy's Home Furnishings. Vitamin Shoppe's stock, which is still inactive in premarket trading, has tumbled 57.6% over the past 12 months.

 

Vitamin Shoppe to be acquired by Liberty Tax, Inc. in an all cash transaction valued at approximately $208 million

The Vitamin Shoppe shareholders will receive $6.50 per share, which represents a premium of 43% to its closing share price on August 7, 2019, and a premium of approximately 59% to the 30-day volume weighted average price for the period ended on August 7, 2019.

Liberty Tax intends to finance the transaction with up to approximately $170 million in debt financing and a combination of available cash and/or through the issuance of common stock of Liberty Tax. In connection with the execution of the merger agreement, Liberty Tax entered into debt commitment letters with institutional lenders and an equity commitment letter with an affiliate of Vintage Capital Management, LLC.

Liberty Tax, Inc. is the parent company of Liberty Tax Service and Buddy's Home Furnishings, and Vitamin Shoppe, Inc.

The transaction is expected to be completed in the fourth quarter of 2019.