Canadian vitamin maker Jamieson up for sale by CCMP -sources

NEW YORK/HONG KONG/TORONTO May 2 U.S. private
equity firm CCMP Capital Advisors is trying to sell Jamieson
Laboratories about two years after buying the Canadian vitamin
maker, according to three sources familiar with the situation.

CCMP, which has hired investment banks Houlihan Lokey and
Nomura to facilitate the sale, has received some approaches from
potential buyers, said the sources, who spoke on condition of
anonymity as the matter was not public.

Huge interest in health and wellness in Asia has fueled
interest in the vitamins market, and Chinese players are looking
to expand beyond their borders.

One source said Jamieson could go for a multiple of 12 to 14
times EBITDA, which would be roughly $600 million to $700
million. Jamieson was sold in 2014 for about $300 million, which
was a multiple of 10 times adjusted EBITDA, the source said.

Houlihan Lokey, which advised Jamieson on the previous sale
to CCMP, and Nomura did not immediately respond to requests for
comment. CCMP declined comment.

While interest in the asset is said to be strong, the talks
are progressing slowly, two of the sources said.

The news of renewed interest in Jamieson was reported by the
Wall Street Journal earlier on Monday.

(Reporting by Lauren Hirsch in New York, Denny Thomas in Hong
Kong, John Tilak in Toronto; Editing by Cynthia Osterman)

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Source URL:http://www.reuters.com/article/jamieson-ccmp-ma-idUSL2N17Z20U

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